Rule 120-2-71-.19 - Anti-Tying Provisions(1) No person may by words, actions, or distribution of written materials require or create the impression that the purchase of an annuity by a borrower or prospective borrower is required as a condition of or is in any way related to the lending of money or the extension of credit, the establishment or maintenance of a trust account, the establishment or maintenance of an insured deposit account, or the provision of services related to such activities.(2) If annuities are marketed in connection with or in conjunction with any activities described in this section: (a) The marketer shall disclose both verbally and in writing that the purchase of an annuity is unrelated to and not a condition to the provision or term of any banking services or activity. The written disclosure required by this section shall be part of the disclosures required by the Department of Banking and Finance Regulation 80-5-3-.08.(b) If an annuity product is offered in a package with other services described in (1) above, the financial institution shall offer the annuity product available separately, subject to the terms and conditions no less favorable to the consumer than in the packageGa. Comp. R. & Regs. R. 120-2-71-.19
O.C.G.A. Secs. 33-2-9, 33-3-23, 33-6-1et seq.
Original Rule entitled "Anti-Tying Provisions" adopted. F. Jul. 19, 1996; eff. Aug. 8, 1996.