Bill Text: AZ SB1534 | 2019 | Fifty-fourth Legislature 1st Regular | Chaptered

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Bill Title: Annuity disclosure; rules

Spectrum: Slight Partisan Bill (Democrat 11-6)

Status: (Passed) 2019-05-13 - Chapter 223 [SB1534 Detail]

Download: Arizona-2019-SB1534-Chaptered.html

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House Engrossed Senate Bill

 

 

 

State of Arizona

Senate

Fifty-fourth Legislature

First Regular Session

2019

 

 

 

CHAPTER 223

 

SENATE BILL 1534

 

 

AN ACT

 

Providing for the adoption of rules by the department of insurance on annuity disclosure regulation.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Annuity disclosure; illustration requirements; rulemaking

Within one year after the effective date of this act, the department of insurance shall adopt rules pursuant to title 41, chapter 6, Arizona Revised Statutes, relating to:

1.  The national association of insurance commissioners' annuity disclosure model regulation that is in effect on the effective date of this act.

2.  Illustration requirements specific to participating immediate and deferred income annuities.

 

 

 

 

APPROVED BY THE GOVERNOR MAY 13, 2019.

 

FILED IN THE OFFICE OF THE SECRETARY OF STATE MAY 13, 2019.