Title 33, Chapter 28, Section 6
( 33-28-6)
(a) Every annuity, reversionary annuity, or pure endowment contract
issued for delivery in this state, except group annuities, shall
have printed on or attached to the contract a notice stating in
substance that the person to whom the annuity or contract is issued
shall be permitted to return the annuity or contract within ten days
after receipt thereof and to have the premium paid refunded if,
after examination of the annuity or contract, the purchaser is not
satisfied with it for any reason. (b) If the purchaser, pursuant to such notice, returns the annuity
or contract to the insurer at its home or branch office or to the
agent through whom it was purchased, it shall be void from the
beginning and the parties shall be in the same position as if no
annuity or contract had been issued. (c) Without limiting any other method of returning an annuity or
contract under this Code section, it shall be prima-facie evidence
of the fact and date of return of an annuity or contract if the
annuity or contract is dispatched by certified mail or statutory
overnight delivery to the insurer or agent, as provided in this Code
section, and a return receipt provided by the United States Postal
Service or the commercial delivery company is obtained. |