ADMINISTRATIVE CODE

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  4. PART 3120 SUITABILITY IN ANNUITY TRANSACTIONS
TITLE 50: INSURANCE
CHAPTER I: DEPARTMENT OF INSURANCE SUBCHAPTER ii: INSURANCE PRODUCERS, LIMITED INSURANCE REPRESENTATIVES AND REGISTERED FIRMS
PART 3120 SUITABILITY IN ANNUITY TRANSACTIONS
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Section 3120.10 Purpose
Section 3120.20 Scope
Section 3120.30 Exemptions
Section 3120.40 Definitions
Section 3120.50 Duties of Insurers and Insurance Producers
Section 3120.60 Insurance Producer Training
Section 3120.70 Compliance Mitigations; Penalties
Section 3120.80 Recordkeeping
Section 3120.90 Noncompliance

Section 3120.APPENDIX A Insurance Producer Disclosure for Annuities
Section 3120.APPENDIX B Consumer Refusal to Provide Information
Section 3120.APPENDIX C Consumer Decision to Purchase an Annuity Not Based on a Recommendation
AUTHORITY: Implementing and authorized by Article XXXI of the Illinois Insurance Code [215 ILCS 5] and further authorized by Section 401 of the Illinois Insurance Code [215 ILCS 5].
SOURCE: Adopted at 31 Ill. Reg. 12747, effective January 1, 2008; amended at 35 Ill. Reg. 16087, effective September 26, 2011; amended at 47 Ill. Reg. 2312, effective February 3, 2023.