Sec. 1405. Consultation with Congress
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/bill/115/s/488/eah/section-1405·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Parties representing the Federal Government with respect to any agreement under section 1403 shall provide written notice to and consult with the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, and any other relevant committees of jurisdiction— before initiating negotiations to enter into the agreement, regarding— the intention of the United States to participate in or enter into such negotiations; and the nature and objectives of the negotiations; and during negotiations to enter into the agreement, regarding— the nature and objectives of the negotiations; the implementation of the agreement, including how it is consistent with and does not materially differ from or otherwise affect Federal or State laws or regulations; the impact on the competitiveness of United States insurers; and the impact on United States consumers.
Before entering into an agreement under section 1403, the Secretary of the Treasury shall seek to consult with the Federal Advisory Committee on Insurance formed pursuant to section 313(h) of title 31, United States Code.