Sale of annuities by banks: Required disclosures.

1. 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.