California § 10509.9209. 10509.9209. (Added by Stats. 2024, Ch. 2, Sec. 6.)

California Statutes

§ 10509.9209. — 10509.9209. (Added by Stats. 2024, Ch. 2, Sec. 6.)

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. 9.5. ARTICLE 9.5. Suitability Requirements for Annuity Transactions on or after January 1, 2025

(a)A life insurer shall provide to all consumers who purchase an annuity a buyer’s guide that shall be delivered as a stand-alone document with the annuity or before delivery of the annuity.

(b)For the purposes of this section, “buyer’s guide” means the National Association of Insurance Commissioners’ approved Annuity Buyer’s Guide most relevant to the type of product being recommended.

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(a)
A life insurer shall provide to all consumers who purchase an annuity a buyer’s guide that shall be delivered as a stand-alone document with the annuity or before delivery of the annuity.
(b)
For the purposes of this section, “buyer’s guide” means the National Association of Insurance Commissioners’ approved Annuity Buyer’s Guide most relevant to the type of product being recommended.

California § 10509.9209. (10509.9209. (Added by Stats. 2024, Ch. 2, Sec. 6.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.