| | | A.__To promote and protect the interest of consumers of | | individual and group annuity, life, disability income and | | long-term care insurance products; |
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| | | B.__To develop uniform standards for insurance products | | covered under the compact; |
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| | | 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; |
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| | | D.__To give appropriate regulatory approval to those product | | filings and advertisements satisfying the applicable uniform | | standard; |
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| | | 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; |
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| | | F.__To create the Interstate Insurance Product Regulation | | Commission; and |
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| | | G.__To perform these and such other related functions as may | | be consistent with the state regulation of the business of | | insurance. |
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| | | §2473.__Definitions -- Article 2 |
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| | | As used in this chapter, unless the context otherwise | | indicates, the following terms have the following meanings. |
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| | | 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. |
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| | | 2.__Bylaws.__"Bylaws" means the bylaws established by the | | commission for its governance or for directing or controlling the | | commission's actions or conduct. |
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| | | 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. |
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