Section 683A.315 - Sale of annuities by banks: Required disclosures1. A bank licensed by the Commissioner to sell annuities shall disclose to its customers that the annuities sold by the bank: (a) Are not insured by the Federal Deposit Insurance Corporation;(b) Are not obligations of the bank;(c) Are not guaranteed by the bank; and(d) Involve investment risks, including the possible loss of principal.2. The disclosure must be: (a) Printed on or attached to each policy or advertisement for the sale of an annuity which is provided by the bank to its customers; and(b) Printed in at least 10-point type.3. A bank which fails to comply with the provisions of this section is subject to disciplinary action by the Commissioner pursuant to NRS 683A.451 to 683A.490, inclusive.Nev. Admin. Code § 683A.315
Added to NAC by Comm'r of Insurance, eff. 12-15-94; A by R172-01, 7-5-2002