1. (a) Establishment There is established the National Association of Registered Agents and Brokers (referred to in this subchapter as the “Association”).

2. (b) Status The Association shall—

   1. (1) be a nonprofit corporation;
   2. (2) not be an agent or instrumentality of the Federal Government;
   3. (3) be an independent organization that may not be merged with or into any other private or public entity; and
   4. (4) except as otherwise provided in this subchapter, be subject to, and have all the powers conferred upon, a nonprofit corporation by the District of Columbia Nonprofit Corporation Act (D.C. Code, sec. 29–301.01 et seq.) or any successor thereto.

(Pub. L. 106–102, title III, § 321, as added Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 13.)

Editorial Notes

References in Text

The District of Columbia Nonprofit Corporation Act, referred to in subsec. (b)(4), is Pub. L. 87–569, Aug. 6, 1962, 76 Stat. 265, which is not classified to the Code.

Prior Provisions

Provisions similar to this section were contained in section 6752 of this title, prior to the general amendment of this subchapter by Pub. L. 114–1.

A prior section 6751, Pub. L. 106–102, title III, § 321, Nov. 12, 1999, 113 Stat. 1422, related to State flexibility in multistate licensing reforms, prior to the general amendment of this subchapter by Pub. L. 114–1.