§ 10509.910. — 10509.910. (Added by Stats. 2011, Ch. 295, Sec. 2.)

California § 10509.910.

• Jurisdiction: California
• Code INS: Insurance Code - INS
• Div. 2.: DIVISION 2. CLASSES OF INSURANCE
• Part 2.: PART 2. LIFE AND DISABILITY INSURANCE
• Ch. 5.: CHAPTER 5. General Regulation of Life Insurers
• Art. 9.: ARTICLE 9. Suitability Requirements for Annuity Transactions before January 1, 2025

Text

The purpose of this article is to require insurers to establish a system to supervise recommendations and to set forth standards and procedures for recommendations to consumers that result in transactions involving annuity products, so that the insurance needs and financial objectives of consumers at the time of the transaction are appropriately addressed.

Legislative History

Added by Stats. 2011, Ch. 295, Sec. 2. (AB 689) Effective January 1, 2012.