,,ii  #aag? ,,congress  #b;d ,session   
,s4 #daaj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #bh1 #bjbb,mr4  
,scott ( ,s\? ,c>ol9a 7= himself & ,mr4 
,k+7 introduc$ ! foll[+ bill2 :i* 0 read
 twice & ref]r$ to ! ,committee on      
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to am5d ! ,f9ancial ,/ability  
,act ( #bjaj to include ! ,/ate         
insurance commission] z a vot+ memb] ( !
 ,f9ancial ,/ability ,ov]sight ,c\ncil1 
& = o!r purposes4  #a4 ,%ort title ,?is 
,act may be cit$ z ! ,prim>y ,regulators
 ( ,insurance ,vote ,act ( #bjbb4  #b4  
,e/abli%m5t ( ,/ate insurance           
commission] z a vot+ memb] ( ! ,f9ancial
 ,/ability ,ov]sight ,c\ncil ,section   
#aaa ( ! ,f9ancial ,/ability ,act (     
#bjaj 7#ab ,u4,s4,c4 #ecba7 is am5d$--  
7#a7 9 subsection 7b7-- 7,a7 9 p>agraph 
7#a7-- 7i7 by r$esignat+ subp>agraph    
7,j7 z subp>agraph 7,k72  7ii7 9        
subp>agraph 7,i71 by /rik+ & at ! end2 &
  7iii7 by ins]t+ aft] subp>agraph 7,i7 
! foll[+3  7,j7 a ,/ate insurance       

commission]1 appo9t$ by ! ,presid5t1 by 
& ) ! advice & cons5t ( ! ,s5ate1 z     
describ$ 9 p>agraph 7#d72 &  2 &  7,b7  
by add+ at ! end ! foll[+ new p>agraph3 
7#d7 ,/ate insurance commission] ,be=e  
mak+ any appo9tm5ts pursuant to p>agraph
 7#a77;,j71 ! ,presid5t %all reque/ a   
li/ ( recomm5d$ c&idates f ! ,/ates     
?r\gh ! ,national ,association (        
,insurance ,commission]s4 ,! ,presid5t  
may appo9t a memb] "u p>agraph 7#a77;,j7
 t does n appe> on su* li/4 ,if !       
,national ,association ( ,insurance     
,commission]s fails to submit su* li/ )9
 #ae bus9ess days aft] ! date ( !       
reque/1 ! ,presid5t may appo9t a memb]  
"u p>agraph 7#a77;,j7 )\t consid]+ !    
views ( ! ,national ,association (      
,insurance ,commission]s4  2 &  7#b7 9  
subsection 7c7-- 7,a7 9 p>agraph 7#a71  
by ins]t+ 1 ! ,/ate insurance           
commission] %all s]ve = a t]m ( #d ye>s 
aft] #f ye>s2  7,b7 by /rik+ p>agraph   
7#b7 & ins]t+ ! foll[+3  7#b7 ,vacancies
  7,a7 ,9 g5]al ,subject to subp>agraph 

7,b71 any vacancy on ! ,c\ncil %all be  
fill$ 9 ! mann] 9 :i* ! orig9al         
appo9tm5t 0 made4  7,b7 ,/ate insurance 
commission] ,) respect to a vacancy 9 ! 
memb]%ip ( ! ,/ate insurance commission]
 s]v+ "u subsection 7b77#a77;,j7-- 7i7 !
 ,f$]al ,vacancy ,re=m ,act 7#e         
,u4,s4,c4 #ccde et seq47 %all n apply2 &
  7ii7 su* vacancy %all be fill$ by a   
,/ate insurance commission]1 to be      
designat$ by a selection process det]m9$
 by ! ,/ate insurance commission]s1 :o  
%all s]ve z a nonvot+ memb] ( ! ,c\ncil 
until a successor is appo9t$ & confirm$4
  2 &  7,c7 9 p>agraph 7#d7-- 7i7 by    
/rik+ indep5d5t memb] 9 ! head+1 &      
ins]t+ insurance memb]s2 &  7ii7 /rik+  
subsection 7b77#a77;,j7 & ins]t+        
subsection 7b77#a77,k7 or ! ,/ate       
insurance commission] s]v+ "u subsection
 7b77#a77;,j74  #c4 ,repeal ( ,/ate     
insurance commission] z nonvot+ memb] ( 
,,fsoc  7a7 ,9 g5]al ,section           
#aaa7;b77#b7 ( ! ,f9ancial ,/ability    
,act ( #bjaj 7#ab ,u4,s4,c4             

#ecba7;b77#b77 is am5d$ by /rik+        
subp>agraph 7,c7 & r$esignat+           
subp>agraphs 7,d7 & 7,e7 z subp>agraphs 
7,c7 & 7,d71 respectively4  7b7         
,te*nical & con=m+ am5dm5t ,section     
#aaa7;c77#a7 ( ! ,f9ancial ,/ability    
,act ( #bjaj ,act 7#ab ,u4,s4,c4        
#ecba7;c77#a77 is am5d$ by /rik+ by     
subp>agraphs 7,c71 7,d71 & 7,e7 & ins]t+
 subp>agraphs 7,c7 & 7,d74  #d4         
,tempor>y s]vice2 transition ,not)/&+ ! 
am5dm5ts made by ?is ,act1 dur+ ! p]iod 
beg9n+ on ! date ( ! enactm5t ( ?is ,act
 & end+ on ! date on :i* ! ,/ate        
insurance commission] is appo9t$ &      
confirm$ pursuant to section            
#aaa7;b77#a7 ( ! ,f9ancial ,/ability    
,act ( #bjaj 7#ab ,u4,s4,c4             
#ecba7;b77#a771 z am5d$ by section #b ( 
?is ,act1 section #aaa7;b77#b77;,c7 ( ! 
,f9ancial ,/ability ,act ( #bjaj 7#ab   
,u4,s4,c4 #ecba7;b77#b77;,c771 z 9      
effect on ! day be=e ! date ( enactm5t (
 ?is ,act1 %all cont9ue to apply4  #e4  
,te*nical & con=m+ am5dm5ts ,! ,f9ancial

 ,/ability ,act ( #bjaj 7#ab ,u4,s4,c4  
#ecaa et seq47 is am5d$-- 7#a7 9 section
 #ajb7;a7 7#ab ,u4,s4,c4 #ecaa71 by add+
 at ! end ! foll[+3  7#h7 ,c\ncil ,! t]m
 ,c\ncil means ! ,f9ancial ,/ability    
,ov]sight ,c\ncil e/abli%$ 9 section    
#aaa4  2  7#b7 9 section                
#aab7;a77#b77;,d7 7#ab ,u4,s4,c4        
#ecbb7;a77#b77;,d771 by /rik+ to monitor
 & ins]t+ monitor2  7#c7 9 section      
#aed7;c77#a7 7#ab ,u4,s4,c4             
#ecdd7;c77#a77-- 7,a7 by /rik+ ,c5t]4-- 
& all t foll[s ?r\gh ,! ,rese>* & ins]t+
 ! foll[+3 ,c5t]4--,! ,rese>*2 &  7,b7  
by r$esignat+ subp>agraphs 7,a7 ?r\gh   
7,h7 z p>agraphs 7#a7 ?r\gh 7#h71       
respectively2 &  7#d7 9 section         
#aee7;a77#b7 7#ab ,u4,s4,c4             
#ecde7;a77#b771 by /rik+ ! comma aft]   
subsection 7c74