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(Additions are underscored and deletions are stricken)
BYLAW 301. REQUIREMENTS AND RESTRICTIONS.
(a) Eligibility for Membership.
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(c) Restrictions on Becoming or Remaining a Member or Associated with a Member.
A person may be deemed disqualified to become or remain a Member or associated with a Member-
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(xvi) Any principal has been or could be refused membership: Provided, however, that for the purposes of this Bylaw, "principal" shall mean
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(i) All applications to become a Member or to register as an Associate shall be
(A) a representation that the information supplied in the application is complete and accurate;
(B) a representation that the applicant or Member has authorized the person filing the application to make such filing and all representations and agreements required by this paragraph; and
(C) an express agreement by the applicant that, if admitted to NFA membership or registered as an Associate, the applicant shall become and remain bound by all NFA requirements as are then and thereafter in effect and that such agreement shall apply each time the applicant becomes a Member or Associate.
(iii) An application may be returned by the Secretary of NFA without action if it is materially incomplete or materially inaccurate.
(A) No applicant, Member or Associate may access NFAís electronic registration and membership database until NFA has assigned it a unique identifying code and password;
(B) Each applicant, Member and Associate is responsible for maintaining the security and confidentiality of its identifying code and password and those of the persons whom it authorizes, if permitted, to make electronic registration filings on its behalf. NFAís electronic registration and membership database shall record and store the identifying code of each person accessing NFAís database and shall logically associate in the database such identifying code with any electronic filing made by the person using such identifying code. The person whose identifying code is used to make an electronic filing will be deemed to have made such filing;
(C) Each FCM, IB, CPO or CTA applicant or Member shall make available any person it has authorized to make or actually performing duties related to electronic filings, for testimony in court or before the Commission, NFA or any contract market or DTF regarding the authentication, integrity or accuracy of any electronic filing; and
(D) The ability to electronically access NFAís registration and membership database is a privilege and not a right. NFA may disable any personís identifying code and password and terminate the personís ability to access the database at any time, without notice or a hearing, in NFA's sole discretion, if NFA believes that the person has not complied with this Bylaw or any procedures that NFA establishes to implement this Bylaw.
(vi) As soon as practicable after the application is received and reviewed, the Secretary shall notify the applicant of the action taken (See paragraph (g) below).