17B:25-34 Findings, declarations relative to certain annuity products.
100 words·~1 min read·
/nj/title-17b/chapter-25/17b-25-34·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. The Legislature finds and declares that it is a valid public purpose to set forth standards and procedures regarding annuity products directly solicited to consumers to: prevent the fraudulent and misleading marketing of annuity products by insurers, brokers, and agents; provide standards for the disclosure of information about annuity products so that consumers understand the basic features of these products; ensure that annuity products ultimately issued to consumers are suitable to appropriately address their insurance needs and financial objectives; and enhance oversight over annuity products, including enforcement against violations, through the Department of Banking and Insurance.
L.2008, c.88, s.1.