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15 U.S.C. § 6712

Insurance underwriting in national banks

United States · Title 15 — COMMERCE AND TRADE · Status: effective

Banking, Finance & Insurance
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15 U.S.C. § 6712, Insurance underwriting in national banks, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/442242
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Full text

Except as provided in section 6713 of this title, a national bank and the subsidiaries of a national bank may not provide insurance in a State as principal except that this prohibition shall not apply to authorized products. For the purposes of this section, a product is authorized if— For purposes of this section, the term “insurance” means— any product first offered after January 1, 1999, which— is not a product or service of a bank that is— a financial guaranty, except that this subparagraph (B) shall not apply to a product that includes an insurance component such that if the product is offered or proposed to be offered by the bank as principal— For purposes of this section, providing insurance (including reinsurance) outside the United States that insures, guarantees, or indemnifies insurance products provided in a State, or that indemnifies an insurance company with regard to insurance products provided in a State, shall be considered to be providing insurance as principal in that State.

Legislative history

The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.