Nevada Administrative Code
Chapter 683A - Persons Involved in Sale or Administration of Insurance
MISCELLANEOUS PROVISIONS
Section 683A.315 - Sale of annuities by banks: Required disclosures
Universal Citation: NV Admin Code 683A.315
Current through September 16, 2024
1. A bank licensed by the Commissioner to sell annuities shall disclose to its customers that the annuities sold by the bank:
(a) Are not insured by the Federal Deposit
Insurance Corporation;
(b) Are not
obligations of the bank;
(c) Are
not guaranteed by the bank; and
(d)
Involve investment risks, including the possible loss of principal.
2. The disclosure must be:
(a) Printed on or attached to each policy or
advertisement for the sale of an annuity which is provided by the bank to its
customers; and
(b) Printed in at
least 10-point type.
3. A bank which fails to comply with the provisions of this section is subject to disciplinary action by the Commissioner pursuant to NRS 683A.451 to 683A.490, inclusive.
Added to NAC by Comm'r of Insurance, eff. 12-15-94; A by R172-01, 7-5-2002
NRS 679B.130
Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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