23 CAR § 121-101. Purpose

(a) The purpose of this part is to require: (1) Producers, as defined in this part, to act in the best interest of the consumer when making a recommendation of an annuity; and (2) Insurers to establish and maintain a system to supervise recommendations so that the insurance needs and financial objectives of consumers at the time of the transaction are effectively addressed. (b) Nothing herein shall be construed to create or imply a private cause of action for a violation of this part or to subject a producer to civil liability under the best interest standard of care outlined in 23 CAR § 121-105 or under standards governing the conduct of a fiduciary or a fiduciary relationship.