Record keeping and signed forms for annuity sales

(a) A producer shall at the time of recommendation or sale: (1) Make a written record of any recommendation and the basis for the recommendation subject to this part; (2) Obtain a consumer signed statement on a form substantially similar to Appendix B of the Spring 2020, National Association of Insurance Commissioners Suitability in Annuity Transactions Model Regulation, documenting: (A) A consumer's refusal to provide the consumer profile information, if any; and (B) A consumer's understanding of the ramifications of not providing the consumer's consumer profile information or providing insufficient consumer profile information; and (3) Obtain a consumer signed statement on a form substantially similar to Appendix C of the Spring 2020, National Association of Insurance Commissioners Suitability in Annuity Transactions Model Regulation, acknowledging the annuity transaction is not recommended if a consumer decides to enter into an annuity transaction that is not based on the producer's recommendation. (b) Any requirement applicable to a producer under this part shall apply to every producer who has exercised material control or influence in the making of a recommendation and has received direct compensation as a result of the recommendation or sale, regardless of whether the producer has had any direct contact with the consumer. Activities such as providing or delivering marketing or educational materials, product wholesaling or other back office product support, and general supervision of a producer do not, in and of themselves, constitute material control or influence.