Pub. L. 115-61 - Financial Stability Oversight Council Insurance Member Continuity Act

115th Congress

Affects: 12 U.S.C. §§ 5321

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) 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—

“(4)“(A) 18 months after the date on which the term of service ends; or

“(4)“(B) the date on which a successor to such member is appointed and confirmed.”

Legislative History

LEGISLATIVE HISTORY—H.R. 3110:

CONGRESSIONAL RECORD, Vol. 163 (2017):

Sept. 5, considered and passed House.

Sept. 19, considered and passed Senate.