44-8105 Terms, defined. - Nebraska Statutes

44-8105. Terms, defined.For purposes of the Nebraska Protection in Annuity Transactions Act:(1) Annuity means a fixed annuity or variable annuity that is individually solicited, whether the product is classified as an individual or group annuity;(2) Insurer means a company required to be licensed under the laws of this state to provide insurance products, including annuities;(3) Insurance producer means a person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance, including annuities; and(4) Recommendation means advice provided by an insurance producer, or an insurer if an insurance producer is not involved, to a consumer that results in a purchase or exchange of an annuity in accordance with that advice. SourceLaws 2006, LB 875, § 17; Laws 2007, LB117, § 30.