Nevada Administrative Code
Chapter 688A - Life Insurance and Annuity Contracts
Section 688A.Sec. 21 - NEW
Universal Citation: NV Admin Code 688A.Sec. 21
Current through December 31, 2024
1. Except as otherwise provided in subsection 2, a producer shall have no obligation to a consumer under sections 15 to 20, inclusive related to an annuity transaction if:
(a) No recommendation is made;
(b) A recommendation was made and was later
found to have been prepared based on materially inaccurate information provided
by the consumer;
(c) A consumer
refuses to provide relevant consumer profile information and the annuity
transaction is not recommended; or
(d) A consumer decides to enter into an
annuity transaction that is not based on a recommendation of the
producer.
2. An insurer's issuance of an annuity subject to subsection 1 shall be reasonable under all the circumstances actually known to the insurer at the time the annuity is issued.
Added to NAC by Comm'r of Insurance by R109-23A, eff. 11/15/2024
NRS 679B.130
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