115 HR 3110 ENR: To amend the Financial Stability Act of 2010 to modify the term of the independent member of the Financial Stability Oversight Council.
House Bill3110115 HR 3110 ENR
115hr3110enr
115 H.R. 3110 ENR
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H. R.3110
One Hundred Fifteenth Congress of the United States of AmericaA T T H E F I R S T S E S S I O N
Begun and held at the City of Washington on Tuesday, the third day of January, two thousand and seventeen
An Act
To amend the Financial Stability Act of 2010 to modify the term of the independent member of the Financial Stability Oversight Council.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
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.”.
Speaker of the House of Representatives.
Vice President of the United States and President of the Senate.