Nevada has become the 48th U.S. state to institute the best interest annuity rule administered by the National Association of Insurance Commissioners.
The Nevada Legislative Counsel Bureau’s legislative review committee on Monday approved the Nevada Division of Insurance’s rule based on the NAIC regulation, and it now applies to annuity sellers in Nevada, following similar moves this year by California, Indiana and Louisiana. Massachusetts and New York are the two states that have not implemented it.
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