North Dakota Code 26.1-34.2-01.1 – Scope
Current as of: 2023 | Check for updates
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This chapter applies to a sale or recommendation of an annuity. This chapter may not be construed to create or imply a private cause of action for a violation of this chapter or to subject a producer to civil liability under the best interest standard of care outlined in section 26.1-34.2-03 or under standards governing the conduct of a fiduciary or a fiduciary relationship.
Terms Used In North Dakota Code 26.1-34.2-01.1
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Fiduciary: A trustee, executor, or administrator.