120-2-71-.06

Ga. Comp. R. & Regs. r. 120-2-71-.06

Underwriting of Annuities Prohibited

Effective Aug 8, 1996Published Jul 19, 1996O.C.G.A. Secs. 33-2-9, 33-3-2, 33-3-23.OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER

Rule 120-2-71-.06. Underwriting of Annuities Prohibited

A financial institution may not itself directly or indirectly assume the obligation to provide the benefits of an annuity contract or otherwise undertake to perform the obligations of an annuity.

Authority: O.C.G.A. Secs. 33-2-9, 33-3-2, 33-3-23.

History. Original Rule entitled "Underwriting of Annuities Prohibited" adopted. F. Jul. 19, 1996; eff. Aug. 8, 1996.