Maine

Fiduciary/Best Interest Development

  • The Maine Bureau of Insurance has proposed a rule amending its Suitability in Annuity Transactions Regulation (“Chapter 917”) to adopt the NAIC’s model suitability standard (discussed below).
  • The new rule takes effect January 1, 2022.

Sources

Final Rule Chapter 917 – The primary source for Chapter 917 is the Secretary of State. Follow the link above and choose Ch. 917. You can then download a Word version of the rule.