14131462, 69B-162.011 - Florida Administrative Rules, Law, Code, Register

Home

Florida Department of State and Division of Library and Information Services

Notice: 14131462

Notice of Development of Rulemaking

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Division of Insurance Agent and Agency Services

Chapter:

ANNUITY CONTRACTS

Overview

RULE:

69B-162.011

Suitability and Disclosure in Annuity Investments - Forms Required

PURPOSE:

The proposed rule is amended to conform with revisions to s. 627.4554, F.S., as enacted by SB 166 (Chapter 2013-163, Laws of Florida). SB 166 substantially revised Florida consumer protection laws relating to the sales of annuities by incorporating the 2010 National Association of Insurance Commissioners (“NAIC”) Suitability in Annuity Transactions Model Regulation. The proposed rule extends protections previously afforded senior consumers in annuity transactions to consumers of any age. Forms DFS-H1-1980and DFS-H1-1981 are revised to reflect the standards, procedures and guidelines of the 2010 NAIC Annuity Suitability Model Regulation, and s. 627.4554, F.S.

SUBJECT:

Amendment to Conform Rule with Section 627.4554, F.S.

RULEMAKING AUTHORITY:

624.308(1), 627.4554(9), F.S.

LAW:

627.4554, F.S.

PRINT PUBLISH DATE:

2/3/2014 Vol. 40/22

RELATED STATUTES
AND LAWS:

624.308(1), 627.4554(9), F.S., 627.4554, F.S.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=69B-162.011&PDate=2/3/2014&Section=1

REFERENCE MATERIALS:

No reference(s).

Under Florida law, E-mail addresses are public records. If you do not want your E-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing.