Page:United States Statutes at Large Volume 124.djvu/2024

124 STAT. 1998 PUBLIC LAW 111–203—JULY 21, 2010 (1) IN GENERAL.—The Director may not exercise any rule- making, supervisory, enforcement, or other authority over a person to the extent that— (A) such person is not described in paragraph (2); and (B) such person— (i) acts as an agent or broker for a buyer or seller of a manufactured home or a modular home; (ii) facilitates the purchase by a consumer of a manufactured home or modular home, by negotiating the purchase price or terms of the sales contract (other than providing financing with respect to such trans- action); or (iii) offers to engage in any activity described in clause (i) or (ii). (2) DESCRIPTION OF ACTIVITIES.—A person is described in this paragraph to the extent that such person is engaged in the offering or provision of any consumer financial product or service or is otherwise subject to any enumerated consumer law or any law for which authorities are transferred under subtitle F or H. (3) DEFINITIONS.—For purposes of this subsection, the fol- lowing definitions shall apply: (A) MANUFACTURED HOME.—The term ‘‘manufactured home’’ has the same meaning as in section 603 of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5402). (B) MODULAR HOME.—The term ‘‘modular home’’ means a house built in a factory in 2 or more modules that meet the State or local building codes where the house will be located, and where such modules are transported to the building site, installed on foundations, and com- pleted. (d) EXCLUSION FOR ACCOUNTANTS AND TAX PREPARERS.— (1) IN GENERAL.—Except as permitted in paragraph (2), the Bureau may not exercise any rulemaking, supervisory, enforcement, or other authority over— (A) any person that is a certified public accountant, permitted to practice as a certified public accounting firm, or certified or licensed for such purpose by a State, or any individual who is employed by or holds an ownership interest with respect to a person described in this subpara- graph, when such person is performing or offering to per- form— (i) customary and usual accounting activities, including the provision of accounting, tax, advisory, or other services that are subject to the regulatory authority of a State board of accountancy or a Federal authority; or (ii) other services that are incidental to such cus- tomary and usual accounting activities, to the extent that such incidental services are not offered or pro- vided— (I) by the person separate and apart from such customary and usual accounting activities; or (II) to consumers who are not receiving such customary and usual accounting activities; or