Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 310 - VARIABLE ANNUITY RULE
Article XI - Authorization of Agents for the Sale of Variable Annuities
Section 031-310-XI-2 - Reports of disciplinary actions

Universal Citation: 02 ME Code Rules ยง 031-310-XI-2

Current through 2024-38, September 18, 2024

Any person authorized in this state under applicable law to sell or offer to sell variable annuities shall immediately report to the Bureau:

a. any suspension or revocation of his or her agent's license in any other state or territory of the United States;

b. the imposition of any disciplinary sanction, including suspension or expulsion from membership, suspension, or revocation of or denial of registration, imposed upon him by any national securities exchange, or national securities association, or any federal, state, or territorial agency with jurisdiction over securities or variable annuities; and

c. any judgment or injunction entered against him or her on the basis of conduct deemed to have involved fraud, deceit, misrepresentation, or violation of any insurance or securities law or regulation.

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