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2009 Nebraska Code
Chapter 44 INSURANCE
44-8105 Terms, defined.

44-8105. Terms, defined.

For purposes of the Nebraska Protection in Annuity Transactions Act:

(1) Annuity means a fixed annuity or variable annuity that is individually solicited, whether the product is classified as an individual or group annuity;

(2) Insurer means a company required to be licensed under the laws of this state to provide insurance products, including annuities;

(3) Insurance producer means a person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance, including annuities; and

(4) Recommendation means advice provided by an insurance producer, or an insurer if an insurance producer is not involved, to a consumer that results in a purchase or exchange of an annuity in accordance with that advice.

Source
    Laws 2006, LB 875, § 17;
    Laws 2007, LB117, § 30.



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