113 STAT. 1358 PUBLIC LAW 106-102—NOV. 12, 1999 (3) effectively prevents a depository institution, or affiliate thereof, from engaging in insurance activities authorized or permitted by this Act or any other provision of Federal law; or (4) conflicts with the intent of this Act generally to permit affiliations that are authorized or permitted by Federal law between depository institutions, or affiliates thereof, and persons engaged in the business of insurance. if) LIMITATION.— Subsections (c) and (d) shall not be construed to affect— (1) the jurisdiction of the securities commission (or any agency or office performing like functions) of any State, under the laws of such State— (A) to investigate and bring enforcement actions, consistent with section 18(c) of the Securities Act of 1933, with respect to fraud or deceit or unlawful conJuct by any person, in connection with securities or securities transactions; or (B) to require the registration of securities or the licensure or registration of brokers, dealers, or investment advisers (consistent with section 203A of the Investment Advisers Act of 1940), or the associated persons of a broker, dealer, or investment adviser (consistent with such section 203A); or (2) State laws, regulations, orders, interpretations, or other actions of general applicability relating to the governance of corporations, partnerships, limited liability companies, or other business associations incorporated or formed under the laws of that State or domiciled in that State, or the applicability of the antitrust laws of any State or any State law that is similar to the antitrust laws if such laws, regulations, orders, interpretations, or other actions are not inconsistent with the purposes of this Act to authorize or permit certain affiliations and to remove barriers to such affiliations. (g) DEFINITIONS.— For purposes of this section, the following definitions shall apply: (1) AFFILIATE.— The term "affiliate" means any company that controls, is controlled by, or is under common control with another company. (2) ANTITRUST LAWS.— The term "antitrust laws" has the meaning given the term in subsection (a) of the first section of the Cla5^on Act, and includes section 5 of the Federal Trade Commission Act (to the extent that such section 5 relates to unfair methods of competition). (3) DEPOSITORY INSTITUTION.—The term "depository institution"— (A) has the meaning given the term in section 3 of the Federal Deposit Insurance Act; and (B) includes any foreign bank that maintains a branch, agency, or commercial lending company in the United States. (4) INSURER. —The term "insurer" means any person engaged in the business of insurance. (5) STATE.— The term "State" means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust
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