((a)) ** Establishment** There is established the National Association of Registered Agents and Brokers (referred to in this subchapter as the “Association”).

((b)) ** Status** The Association shall—

((1)) be a nonprofit corporation;

((2)) not be an agent or instrumentality of the Federal Government;

((3)) be an independent organization that may not be merged with or into any other private or public entity; and

((4)) except as otherwise provided in this subchapter, be subject to, and have all the powers conferred upon, a nonprofit corporation by the District of Columbia Nonprofit Corporation Act (D.C. Code, sec. 29–301.01 et seq.) or any successor thereto.