58-33A-18. Conditions resulting in no obligation to consumer.

Except as provided pursuant to § 58-33A-19, a producer has no obligation to a consumer under §§ 58-33A-16.1 to 58-33A-16.3, inclusive, and § 58-33A-17 related to any annuity transaction if:

(1)    A consumer refuses to provide relevant consumer profile information and the annuity transaction is not recommended;

(2)    A consumer decides to enter into an annuity transaction that is not based on a recommendation of the producer;

(3)    A recommendation was made and was later found to have been prepared based on materially inaccurate information provided by the consumer; or

(4)    No recommendation is made.

Source: SL 2008, ch 273, § 6; SL 2012, ch 250, § 4; SL 2022, ch 186, § 10, eff. Jan. 1, 2023.