Wash. Enacts Consumer Protection Law For Annuities

Law360, New York (March 31, 2009, 12:00 AM EDT) -- The state of Washington has joined the majority of U.S. states in imposing consumer protection measures on the sale of annuities, with the governor signing a bill that will require annuities sellers and insurers to evaluate a consumer's individual financial situation before completing transactions.

Washington Gov. Chris Gregoire on Monday signed Senate Bill 5671, which applies strict consumer protection measures and reporting requirements for insurers to the sale of fixed and variable annuities in the state beginning in July, in an effort to ensure customers are...
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