The task: The Gramm-Leach-Bliley Act (GLBA) of 1999 mandated that at least 29 states enact uniform or reciprocal producer licensing laws by November 12, 2002, otherwise, the National Association of Agents & Brokers (NARAB) would be created to establish uniformity among the states.The status: The National Association of Insurance Commissioners (NAIC), Kansas City, Mo., made the preliminary determination that at least 35 states have passed laws that meet the reciprocity criteria of GLBA. The NAIC is expected to officially certify those states this month, preventing the formation of NARAB.
States Meet GLBA Deadline
September 01, 2002, 1:00 a.m. EDT 1 Min Read
