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S.534: National Association of Registered Agents and Brokers Reform Act of 2013

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about finance and financial sector
You can read the bill
Sponsor Jon Tester, D-Mont.
Total Cosponsors 27 (15 Democrats, 12 Republicans)
Introduced March 12, 2013
Latest Major Action July 29, 2013
See it on GovTrack
See it on C-SPAN

Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill Summary

National Association of Registered Agents and Brokers Reform Act of 2013 - (Sec. 2) Amends the Gramm-Leach-Bliley Act to repeal the contingent conditions under which the National Association of Registered Agents and Brokers (NARAB) shall not be established. Establishes the NARAB without contingent conditions as an independent nonprofit corporation to prescribe, on a multi-state basis, licensing and insurance producer qualification requirements and conditions.

Prohibits NARAB from merging with or into any other private or public entity.

Requires the NARAB, without affecting state regulatory authority, to provide a mechanism for the adoption and multi-state application of requirements and conditions pertaining to: (1) licensing, continuing education, and other qualifications of non-NARAB insurance producers; (2) resident or nonresident insurance producer appointments; (3) supervision and disciplining of such producers; and (4) the setting of licensing fees for insur...

(Source: Congressional Research Service)

Bill Actions

Date Description
July 29, 2013 Placed on Senate Legislative Calendar under General Orders. Calendar No. 151.
July 29, 2013 Committee on Banking, Housing, and Urban Affairs. Reported by Senator Johnson SD, with an amendment in the nature of a substitute. With written report No. 113-82.
June 6, 2013 Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
March 19, 2013 Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held. With printed Hearing: S.Hrg. 113-21.
March 12, 2013 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.