Oregon Opt Out of Uniform Standards Adopted on April 25th
On May 28th, the Oregon Division of Financial Regulation provided notice to the Insurance Compact of its election to opt out by regulation of the Standards for Individual Deferred Index Linked Variable Annuity Contracts (Commonly Marketed as Registered Index Linked Annuities) and the amendments to Additional Standards for Market Value Adjustment Feature Provided Through a Separate Account (now known as the Additional Standards for Market Value Adjustment Feature for Modified Guaranteed Annuities and Index Linked Variable Annuities) adopted by the Insurance Compact on April 25, 2024. In its request, the Oregon Division of Financial Regulation petitioned the Commission to stay the effectiveness of these the aforementioned Uniform Standards for Oregon.
The Commission will consider Oregon’s request for stay at its next meeting which will likely be held in advance of the Commission’s August in-person meeting in Chicago. If you have any questions regarding this notice, please contact the Insurance Compact Office.
Share Article