Sec. 3. Accounting standards applicable to insurance companies
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/bill/113/hr/2140/ih/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 115 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5325 ) is amended by adding at the end the following: With respect to a nonbank financial company supervised by the Board of Governors that is an insurance company, the Board of Governors may not require the insurance company to comply with accounting standards, including generally accepted accounting principles, that are different than those regulatory accounting standards applicable to the insurance company under applicable State law. .
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Sec. 3
Accounting standards applicable to insurance companies
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