Sec. 5. Rulemaking
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/bill/118/hr/1165/rh/section-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 504 of the Gramm-Leach-Bliley Act ( 15 U.S.C. 6804 ) is amended— in subsection (a)(1)— by striking subparagraph
(D)and inserting the following: With respect to any person engaged in providing insurance, the applicable State insurance authority of the State in which the person is domiciled shall issue regulations as may be necessary to carry out the purposes of this subtitle, subject to section 505(c). Regulations issued by a State insurance authority under this subparagraph may be no more restrictive for a person engaged in providing insurance than those regulations issued by the agencies coordinating for consistency and comparability under paragraph (2). ; and by adding at the end the following: When prescribing rules under this subtitle, agencies shall take into account the compliance cost such rules will impose on small institutions. .
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U.S. Code