SUITABILITY IN ANNUITY.

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View NCGA Bill Details(link is external)2017-2018 Session
House Bill 784 (Public) Filed Tuesday, April 11, 2017
AN ACT TO IMPLEMENT REVISED MODEL REGULATIONS OF THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS GOVERNING RECOMMENDATIONS MADE TO CONSUMERS REGARDING THE PURCHASE OR EXCHANGE OF ANNUITIES.
Intro. by Collins, Corbin.
Status: Ref To Com On Rules and Operations of the Senate (Senate Action) (Apr 26 2017)

Bill History:

H 784

Bill Summaries:

  • Bill H 784 (2017-2018)
    Summary date: Apr 25 2017 - View Summary

    House committee substitute makes the following changes to the 1st edition:

    Changes the description of the model regulations the Department of Insurance is directed to adopt from those "as revised in March 2010" to the "most recent" model regulations.

     

    Banking and Finance, Government, State Agencies, Department of Insurance
    UNCODIFIED
  • Bill H 784 (2017-2018)
    Summary date: Apr 12 2017 - View Summary

    Requires the Department of Insurance (Department) to adopt rules substantially similar to the model regulation on suitability in annuity transactions (as revised in March 2010) issued by the National Association of Insurance Commissioners. Specifies that the rules are not subject to Part 3 of Article 2A of GS Chapter 150B (Administrative Procedure Act).

    Makes a conforming repeal of Part 4 (Suitability in Annuity Transactions) of Article 60 of GS Chapter 58. Effective on the date that rules adopted, as required above, become effective.

    Requires the Codifier of Rules to notify the Revisor of Statutes of the effective date of rules adopted as required by this act.

    Banking and Finance, Government, State Agencies, Department of Insurance
    UNCODIFIED
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