N.M. Admin. Code § 13.9.6.6

Current through Register Vol. 36, No. 1, January 14, 2025

Section 13.9.6.6 - OBJECTIVE

The purpose of this rule is:

A. to regulate the activities of insurers and producers with respect to the replacement of existing life insurance and annuities;

B. to protect the interests of life insurance and annuity purchasers by establishing minimum standards of conduct to be observed in replacement or financed purchase transactions, it will;

(1) assure that purchasers receive information with which a decision can be made in his or her own best interest;

(2) reduce the opportunity for misrepresentation and incomplete disclosure; and

(3) establish penalties for failure to comply with requirements of this rule.

N.M. Admin. Code § 13.9.6.6

13.9.6.6 NMAC - Rp 13 NMAC 9.6.6, 1-1-04