Arizona House Sends Best-Interest Annuity Rules To Gov. Ducey
June 2, 2020 by John Hilton
The Arizona House of Representatives this week approved and sent to Gov. Doug Ducey a bill to adopt a model regulation for annuity sales that requires financial professionals to act in the best interests of the consumer.
If Ducey signs the bill, Arizona would become the second state to adopt best-interest rules modeled on a proposal the National Association of Insurance Commissioners sent to the states earlier this year. Iowa adopted similar rules in early May.
The Arizona House voted 36-24 to approve the measure, sponsored by Sen. David Livingston, R-22nd District.