| A.__To promote and protect the interest of consumers of | individual and group annuity, life, disability income and | long-term care insurance products; |
|
| B.__To develop uniform standards for insurance products | covered under the compact; |
|
| C.__To establish a central clearinghouse to receive and | provide prompt review of insurance products covered under | the compact and, in certain cases, advertisements related | thereto, submitted by insurers authorized to do business in | one or more compacting states; |
|
| D.__To give appropriate regulatory approval to those product | filings and advertisements satisfying the applicable uniform | standard; |
|
| E.__To improve coordination of regulatory resources and | expertise between state insurance departments regarding the | setting of uniform standards and review of insurance | products covered under the compact; |
|
| F.__To create the Interstate Insurance Product Regulation | Commission; and |
|
| G.__To perform these and such other related functions as may | be consistent with the state regulation of the business of | insurance. |
|
| §2473.__Definitions -- Article 2 |
|
| | As used in this chapter, unless the context otherwise | indicates, the following terms have the following meanings. |
|
| | 1.__Advertisement.__"Advertisement" means any material | designed to create public interest in a product or induce the | public to purchase, increase, modify, reinstate, borrow on, | surrender, replace or retain a policy, as more specifically | defined in the rules and operating procedures of the commission. |
|
| | 2.__Bylaws.__"Bylaws" means the bylaws established by the | commission for its governance or for directing or controlling the | commission's actions or conduct. |
|
| | 3.__Compacting state.__"Compacting state" means a state that | has enacted the compact and that has not withdrawn pursuant to | section 2485, subsection 1 or been terminated pursuant to section | 2485, subsection 2. |
|
|