eligible entity

(1)the term “eligible entity” means— (A)a securities commission (or any agency or office performing like functions) of a State that the Office determines has adopted rules on the appropriate use of designations in the offer or sale of securities or the provision of investment advice that meet or exceed the minimum requirements of the NASAA Model Rule on the Use of Senior-Specific Certifications and Professional Designations (or any successor thereto); (B)the insurance commission (or any agency or office performing like functions) of any State that the Office determines has— (i)adopted rules on the appropriate use of designations in the sale of insurance products that, to the extent practicable, conform to the minimum requirements of the National Association of Insurance Commissioners Model Regulation on the Use of Senior-Specific Certifications and Professional Designations in the Sale of Life Insurance and Annuities (or any successor thereto); and (ii)adopted rules with respect to fiduciary or suitability requirements in the sale of annuities that meet or exceed the minimum requirements established by the Suitability in Annuity Transactions Model Regulation of the National Association of Insurance Commissioners (or any successor thereto); or (C)a consumer protection agency of any State, if— (i)the securities commission (or any agency or office performing like functions) of the State is eligible under subparagraph (A); or (ii)the insurance commission (or any agency or office performing like functions) of the State is eligible under subparagraph (B);

Source

12 USC § 5537(a)(1)


Scoping language

As used in this section
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