§ 6760. — Functions of the NAIC.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC6760]
TITLE 15--COMMERCE AND TRADE
CHAPTER 93--INSURANCE
SUBCHAPTER III--NATIONAL ASSOCIATION OF REGISTERED AGENTS AND BROKERS
Sec. 6760. Functions of the NAIC
(a) Administrative procedure
Determinations of the NAIC, for purposes of making rules pursuant to
section 6758 of this title, shall be made after appropriate notice and
opportunity for a hearing and for submission of views of interested
persons.
(b) Examinations and reports
(1) Examinations
The NAIC may make such examinations and inspections of the
Association and require the Association to furnish to the NAIC such
reports and records or copies thereof as the NAIC may consider
necessary or appropriate in the public interest or to effectuate the
purposes of this subchapter.
(2) Report by Association
As soon as practicable after the close of each fiscal year, the
Association shall submit to the NAIC a written report regarding the
conduct of its business, and the exercise of the other rights and
powers granted by this subchapter, during such fiscal year. Such
report shall include financial statements setting forth the
financial position of the Association at the end of such fiscal year
and the results of its operations (including the source and
application of its funds) for such fiscal year. The NAIC shall
transmit such report to the President and the Congress with such
comment thereon as the NAIC determines to be appropriate.
(Pub. L. 106-102, title III, Sec. 330, Nov. 12, 1999, 113 Stat. 1430.)
Section Referred to in Other Sections
This section is referred to in section 6762 of this title.
