20-1243. Definitions


In this article, unless the context otherwise requires:


1. "Annuity" means a fixed or variable annuity that is individually solicited,
whether the product is classified as an individual or group annuity.


2. "Business entity" has the same meaning prescribed in section 20-281.


3. "Insurance producer" has the same meaning prescribed in section 20-281.


4. "Insurer" has the same meaning prescribed in section 20-104.


5. "Managing general agent" has the same meaning prescribed in section 20-311.


6. "Recommendation" means advice provided by an insurance producer, or an insurer
if no producer is involved, to an individual consumer that results in a purchase or
exchange of an annuity pursuant to that advice.