W. Va. Code R. § 114-11E-1
Current through Register Vol. XLI, No. 49, December 6, 2024
Section 114-11E-1 - General1.1. Scope. -- The purpose of this rule is to provide standards for the disclosure of certain minimum information about annuity contracts to protect consumers and foster consumer education. The rule specifies the minimum information which must be disclosed, and the method for disclosing it, and the use and content of illustrations, if used, in connection with the sale of annuity contracts. The goal of this rule is to ensure that purchasers of annuity contracts understand certain basic features of annuity contracts. This rule is based on the National Association of Insurance Commissioners' "Annuity Disclosure Model Regulation" (Model 245), as amended in 2011.1.2. Authority. -- W. Va. Code § 33-2-10.1.3. Filing Date. -- April 24, 20151.4. Effective Date. -- July 23, 2015W. Va. Code R. § 114-11E-1