N.Y. Insurance Law 2201 – Certification
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§ 2201. Certification. Every officer or employee of a licensed insurer or of a savings bank, other than a duly licensed agent, who in any office of such insurer or of any savings bank, as a part of his duties, negotiates for applications or orders for life insurance or annuity contracts or solicits or procures from the public such applications or orders shall be required to be certified by the superintendent as to his competency and trustworthiness before engaging in such activities.
Terms Used In N.Y. Insurance Law 2201
- 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.