W. Va. Code R. § 114-89-1

Current through Register Vol. XLI, No. 45, November 8, 2024

Section 114-89-1 - General

1.1. Purpose. -- The purpose of this rule is to set forth standards to protect consumers from misleading and fraudulent marketing practices with respect to the use of senior-specific certifications and professional designations in the solicitation, sale or purchase of, or advice made in connection with, a life insurance or annuity product.

1.2. Scope. -- This rule applies to any solicitation, sale or purchase of, or advice made in connection with, a life insurance or annuity product by an insurance producer. The rule is based on the "Model Regulation on the Use of Senior Specific Certifications and Professional Designations in the Sale of Life Insurance and Annuities (#278)," as adopted by the National Association of Insurance Commissioners in the 3^rd quarter of 2008.

1.3. Authority. -- W. Va. Code §§ 33-2-10 and 33-12-35.

1.4. Filing Date. -- April 14, 2010.

1.4. Effective Date. -- July 1, 2010.

W. Va. Code R. § 114-89-1