National Association of Registered Agents and Brokers Reform Act of 2011

[AI summary unavailable — showing source text] National Association of Registered Agents and Brokers Reform Act of 2011 - Amends the Gramm-Leach-Bliley Act to repeal the contingent conditions under which the National Association of Registered Agents and Brokers (NARAB) shall not be established. Reestablishes the NARAB without contingent conditions as a nonprofit corporation to prescribe, on a multi-state basis, licensing and insurance producer qualification requirements and conditions. Retains states' regulatory authority over: (1) licensing, supervision, disciplining, and setting of licensing fees for insurance producers; and (2) insurance-related consumer protection and unfair trade practices. Prohibits NARAB from establishing criteria that unfairly limit the ability of a small insurance producer to become a member of NARAB. Authorizes NARAB to: (1) establish membership criteria, including a mandatory criminal background check for state-licensed insurance producers, and (2) deny membership to a state-licensed insurance producer on the basis of the criminal history information obtained. Authorizes the NARAB to deny membership to any state-licensed insurance producer for failure to meet membership criteria. States that NARAB me…