(This measure has not been amended since it was introduced. The expanded summary of the House passed version is repeated here.)
Financial Stability Oversight Council Insurance Member Continuity Act
(Sec. 2) This bill amends the Financial Stability Act of 2010 to modify the term of the independent member with insurance expertise of the Financial Stability Oversight Council to allow the current member to continue to serve in the event of a delay in the naming of a successor by the end of the member's six-year term. In such a case, the independent member may continue to serve until 18 months after the end of the term or until a successor is confirmed, whichever is earlier.
[115th Congress Public Law 61]
[From the U.S. Government Publishing Office]
[[Page 131 STAT. 1158]]
Public Law 115-61
115th Congress
An Act
To amend the Financial Stability Act of 2010 to modify the term of the
independent member of the Financial Stability Oversight
Council. <<NOTE: Sept. 27, 2017 - [H.R. 3110]>>
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, <<NOTE: Financial
Stability Oversight Council Insurance Member Continuity Act. 12 USC 5301
note.>>
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Financial Stability Oversight Council
Insurance Member Continuity Act''.
SEC. 2. FINANCIAL STABILITY OVERSIGHT COUNCIL.
Section 111(c) of the Financial Stability Act of 2010 (12 U.S.C.
5321(c)) is amended by adding at the end the following:
``(4) Term of independent member.--Notwithstanding paragraph
(1), if a successor to the independent member of the Council
serving under subsection (b)(1)(J) is not appointed and
confirmed by the end of the term of service of such member, such
member may continue to serve until the earlier of--
``(A) 18 months after the date on which the term of
service ends; or
``(B) the date on which a successor to such member
is appointed and confirmed.''.
Approved September 27, 2017.
LEGISLATIVE HISTORY--H.R. 3110:
---------------------------------------------------------------------------
HOUSE REPORTS: No. 115-293 (Comm. on Financial Services).
CONGRESSIONAL RECORD, Vol. 163 (2017):
Sept. 5, considered and passed House.
Sept. 19, considered and passed Senate.
<all>
Reported by the Committee on Financial Services. H. Rept. 115-293.
Placed on the Union Calendar, Calendar No. 211.
Mr. Hultgren moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H6637-6638)
DEBATE - The House proceeded with forty minutes of debate on H.R. 3110.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H6643)
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 407 - 1 (Roll no. 439).(text: CR H6637)
Roll Call #439 (House)On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 407 - 1 (Roll no. 439). (text: CR H6637)
Roll Call #439 (House)Motion to reconsider laid on the table Agreed to without objection.
Enacted as Public Law 115-61
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Received in the Senate, read twice.
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S5867)
Passed Senate without amendment by Unanimous Consent. (consideration: CR S5867)
Message on Senate action sent to the House.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 115-61.
Became Public Law No: 115-61.