Prior to or at the time of the recommendation or sale of an annuity, the producer shall prominently disclose to the consumer on a form substantially similar to the form prescribed by the director and available on the division’s website: (1) A description of the scope and terms of the relationship with the consumer and the role of the producer in the transaction; (2) An affirmative statement on whether the producer is licensed and authorized to sell the following products: (a) Fixed annuities; (b) Fixed indexed annuities; (c) Variable annuities; (d) Life insurance; (e) Mutual funds; (f) Stocks and bonds; and (g) Certificates of deposit; (3) An affirmative statement describing the insurers the producer is authorized, contracted, appointed, or otherwise able to sell insurance products for using the following descriptions: (a) From one insurer; (b) From two or more insurers; or (c) From two or more insurers although primarily contracted with one insurer; (4) A description of the sources and types of cash compensation and non-cash compensation to be received by the producer, including whether the producer is to be compensated for the sale of a recommended annuity by commission as part of premium or other remuneration received from the insurer, intermediary, or other producer or by fee as a result of a contract for advice or consulting services; and (5) A notice of the consumer’s right to request additional information regarding cash compensation described in § 58-33A-16.6 .
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