Randy Neugebauer

“ The Association shall not be deemed to be an insurer or insurance producer within the meaning of any State law, rule, regulation, or order regulating or taxing insurers, insurance producers, or other entities engaged in the business of insurance, including provisions imposing premium taxes, regulating insurer solvency or financial condition, establishing guaranty funds and levying assessments, or requiring claims settlement practices. ”

“ Purpose The purpose of the Association shall be to provide a mechanism through which licensing, continuing education, and other nonresident insurance producer qualification requirements and conditions may be adopted and applied on a multi-state basis without affecting the laws, rules, and regulations, and preserving the rights of a State, pertaining to—
(1) licensing, continuing education, and other qualification requirements of producers who are not members of the Association ; (2) resident or nonresident producer appointment requirements ”

“ Insurance– The term insurance means any product, other than title insurance or bail bonds, defined or regulated as insurance by the appropriate State insurance regulatory authority.
(4) Insurance producer– The term insurance producer means any insurance agent or broker, excess or surplus lines broker or agent, insurance consultant, limited insurance representative, and any other individual or entity that sells, solicits, or negotiates policies of insurance or offers advice, counsel, opinions or services related to insurance. ”

“ Membership in the Association shall—
(A) authorize an insurance producer to sell, solicit, or negotiate insurance in any State for which the member pays the licensing fee set by such State for any line or lines of insurance specified in such producer’s home State license, and exercise all such incidental powers, as shall be necessary to carry out such activities, including claims adjustments and settlement to the extent permissible under such State’s laws, risk management, employee benefits advice, retirement planning, and any other insurance-related consulting activities ”

“ Liability of directors, officers, and employees– No director, officer, or employee of the Association shall be personally liable to any person for any action taken or omitted in good faith in any matter within the scope of their responsibilities in connection with the Association . ”

“ Rule of construction– Subparagraph (A) shall not be construed as requiring or authorizing any State to adopt new or additional requirements concerning the licensing or evaluation of insurance producers.
(4) Denial of membership– The Association may, based on reasonably consistently applied standards, deny membership to any State-licensed insurance producer for failure to meet the membership criteria established by the Association. ”

“ The Board shall meet at the call of the chairperson, as requested in writing to the chairperson by at least 5 members of the Board , or as otherwise provided by the bylaws of the Association .
(2) Quorum required– A majority of directors shall constitute a quorum.
(3) Voting– Decisions of the Board shall require the approval of a majority of all directors present at a meeting, a quorum being present. ”

“ Private sector representatives– In making any appointments pursuant to subparagraphs (B) through (E) of paragraph (1) , the President may seek recommendations for candidates from national trade associations representing the category of individuals described, which shall not be binding on the President. ”

“ Subtitle C—National Association of Registered Agents and Brokers
Sec. 321. National Association of Registered Agents and Brokers. Sec. 322. Purpose. Sec. 323. Membership. Sec. 324. Board of directors. Sec. 325. Officers. Sec. 326. Bylaws, rules, and disciplinary action. Sec. 327. Powers. Sec. 328. Report by Association. Sec. 329. Liability of the Association and the directors, officers, and employees of the Association. Sec. 330. Presidential oversight. Sec. 331. Relationship to State law. Sec. 332. Coordination with other regulators. Sec. 333. Right of action. ”