Section 3.26.789. Definitions.

In 3 AAC 26.770 - 3 AAC 26.789, unless the context requires otherwise,  
		(1) "direct-response solicitation" means a solicitation solely through mail, telephone, the Internet, or other mass communication media;  
		(2) "insurance producer" has the meaning given in AS 21.27.900;  
		(3) "credit hour" has the meaning given in 3 AAC 23.208;  
		(4) "replacement" has the meaning given in 3 AAC 26.819;  
		(5) "suitability information" means information that is appropriate to determine the suitability of a recommendation, including  
			(A) age;  
			(B) current and expected changes in annual income;  
			(C) current and expected changes in financial situation and needs, including the financial resources used for the funding of the annuity;  
			(D) financial experience;  
			(E) financial objectives;  
			(F)  intended use of the annuity;  
			(G) financial time horizon;  
			(H) existing assets, including investment and life insurance holdings;  
			(I) current and expected changes in liquidity needs;  
			(J) liquid net worth;  
			(K) risk tolerance; and  
			(L) current and expected changes in tax status.  

Authorities

21.06.090;21.27.350;21.36.020;21.36.030;21.36.040;21.36.050;21.36.900;01.05.031;21.36.150;44.62.125

Notes

Reference

3 AAC 26.770
3 AAC 26.775
3 AAC 26.789

Authority

AS 21.06.090 AS 21.27.350 AS 21.36.020 AS 21.36.030 AS 21.36.040 AS 21.36.050 AS 21.36.900 Editor's note: In 2010 the revisor of statutes, acting under AS 01.05.031, renumbered former AS 21.36.150 as AS 21.36.900. As of Register 196 (January 2011), the regulations attorney made a conforming technical revision under AS 44.62.125(b)(6), to the authority citation that follows 3 AAC 26.789, so that the citation to former AS 21.36.150 now refers to the renumbered statute, AS 21.36.900. ________________________

History

Eff. 7/25/2008, Register 187; am 10/16/2011, Register 200; am 1/1/2014, Register 208

References

3.26.789