33-20-804. Definitions. As used in this part, the following definitions apply:
     (1) "Annuity" means a fixed annuity that is individually solicited, regardless of whether the product is classified as an individual or group annuity.
     (2) "Insurance producer", in addition to the definition in 33-17-102, includes an insurance producer licensed to sell, solicit, or negotiate annuities.
     (3) "Insurer", in addition to the definition in 33-1-201, includes an insurer providing annuity products.
     (4) "Recommendation" means advice provided by an insurance producer or by an insurer when an insurance producer is not involved to an individual consumer that results in a purchase or exchange of an annuity in accordance with that advice.

     History: En. Sec. 4, Ch. 476, L. 2007.