California Insurance Code

§ 10509.915

INS § 10509.915 Effective Jan 1, 2025Div. 2 · Part 2 · Ch. 5 · Art. 9

Statute text

(a)A producer shall not solicit the sale of an annuity product unless the producer has adequate knowledge of the product to recommend the annuity and the producer is in compliance with the insurer’s standards for product training. A producer may rely on insurer-provided product-specific training standards and materials to comply with this subdivision.

(b)(1) A producer who is otherwise entitled to engage in the sale of annuity products shall complete a one-time eight credit-hour annuity training course approved by the commissioner and provided by a commissioner-approved education provider, prior to commencing the transaction of annuities, pursuant to subdivision (a) of Section 1749.8.

(2)In addition to the requirement set forth in paragraph (1), every producer who engages in this state in the sale of annuity products shall satisfactorily complete four continuing education credits prior to license renewal every two years, pursuant to subdivision (b) of Section 1749.8.

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Legislative history

Amended by Stats. 2024, Ch. 2, Sec. 4. (SB 263) Effective January 1, 2025.