§431:10D-622 - Definitions.
[§431:10D-622] Definitions. For the purposes of this part:
"Annuity" means a fixed or variable annuity that is individually solicited, whether the product is classified as an individual or group annuity.
"Insurance producer" means a person required to be licensed under the laws of this State to sell, solicit, or negotiate insurance, including annuities.
"Insurer" means a company required to be licensed under the laws of this State to provide insurance products, including annuities.
"Recommendation" means advice provided by an insurance producer, or an insurer where no producer is involved, to an individual consumer that results in a purchase or exchange of an annuity in accordance with that advice. [L 2007, c 257, pt of §2]