Nev. Admin. Code § 688A.Sec. 21 - NEW

1. Except as otherwise provided in subsection 2, a producer shall have no obligation to a consumer under sections 15 to 20, inclusive related to an annuity transaction if:

(a) No recommendation is made;

(b) A recommendation was made and was later found to have been prepared based on materially inaccurate information provided by the consumer;

(c) A consumer refuses to provide relevant consumer profile information and the annuity transaction is not recommended; or

(d) A consumer decides to enter into an annuity transaction that is not based on a recommendation of the producer.

2. An insurer's issuance of an annuity subject to subsection 1 shall be reasonable under all the circumstances actually known to the insurer at the time the annuity is issued.

Notes

Nev. Admin. Code § 688A.Sec. 21

Added to NAC by Comm'r of Insurance by R109-23A, eff. 11/15/2024

NRS 679B.130