Amended Suitability in Annuity Transactions Regulations

MARTIN O'MALLEY Governor ANTHONY G. BROWN Lt. Governor MARYLAND INSURANCE ADMINISTRATION 200 St. Paul Place, Suite 2700, Baltimore, Maryland 21202 1-800-492-6116 TTY: 1-800-735-2258 www.mdinsurance.state.md.us BETH SAMMIS, Ph.D. Acting Commissioner KAREN STAKEM HORNIG Deputy Commissioner ### BULLETIN 11-10 Date: May 13, 2011 To: Life Insurers Re: Amended Suitability in Annuity Transactions Regulations COMAR 31.09.12 The purpose of this bulletin is to notify life insurers licensed in Maryland of recent amendments to the Suitability in Annuity Transactions regulations found in COMAR 31.09.12. These amendments follow the National Association of Insurance Commissioners' model regulation on the same topic. The amendments to these regulations will have a deferred effective of November 1, 2011 to give insurers time to comply with the changes. The amendments to COMAR 31.09.12 were originally published in the Maryland Register on January 28, 2011 and were adopted as published, with one non-substantive change, in the Maryland Register on May 6, 2011. Copies of the Maryland Register are available on the Division of State Documents website at http://www.dsd.state.md.us/MDRegister/mdregister.aspx. Questions about this bulletin may be directed to the Life/Health Section of the Maryland Insurance Administration at 410-468-2170. Signature on file with original Brenda A. Wilson Associate Commissioner Life and Health Section