Arizona Revised Statutes § 20-1243 Definitions

20-1243. Definitions

In this article, unless the context otherwise requires:

1. " Annuity" means a fixed or variable annuity that is individually solicited, whether the product is classified as an individual or group annuity.

2. " Business entity" has the same meaning prescribed in section 20-281.

3. " Insurance producer" has the same meaning prescribed in section 20-281.

4. " Insurer" has the same meaning prescribed in section 20-104.

5. " Managing general agent" has the same meaning prescribed in section 20-311.

6. " Recommendation" means advice provided by an insurance producer, or an insurer if no producer is involved, to an individual consumer that results in a purchase or exchange of an annuity pursuant to that advice.

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Last modified: October 13, 2016