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.
(Added by Stats. 2011, Ch. 295, Sec. 2. (AB 689) Effective January 1, 2012.)
Last modified: October 25, 2018