| Notice Filed with SOS |
05/31/2022 |
| Rule |
ProposedRuleAttach2022-00265.doc |
| Statutory Authority |
§§ 10-1-109(1), 10-2-104, and 10-3-1110(1), Colorado Revised Statutes. |
| Description of Subjects/Issues |
The purpose of this regulation is to require producers, as defined in this regulation, to act in the best interest of the consumer when making a recommendation of an annuity and to require insurers to establish and maintain a system to supervise recommendations so that the insurance needs and financial objectives of consumers at the time of the transaction are effectively addressed. |
| Purpose/Objective of Rule |
The purpose of this regulation is to require producers, as defined in this regulation, to act in the best interest of the consumer when making a recommendation of an annuity and to require insurers to establish and maintain a system to supervise recommendations so that the insurance needs and financial objectives of consumers at the time of the transaction are effectively addressed. |
| Submitted in response to issues raised by COLS/OLLS? |
No
|
| Is this rule adopted in response to recent legislation? |
No
|
| Hearing Date |
07/01/2022 |
| Hearing Time |
10:00 AM |
| Hearing Location |
Webinar or 1560 Broadway, STE 850, Denver CO 80202 |
| Contact Name |
Jill Mullen |
| Contact Title |
Policy Advisor |
| Contact Telephone |
720-5564952 |
| Contact email |
jill.mullen@state.co.us |