Annuity--Best interest standard--Material control or influence

A producer, when making a recommendation of an annuity, shall act in the best interest of the consumer under the circumstances known at the time the recommendation is made, without placing the producer’s or the insurer’s financial interest ahead of the consumer’s interest. For purposes of this section, a producer has acted in the best interest of the consumer by satisfying the obligations regarding care in §§ 58-33A-16.1 to 58-33A-16.3 , inclusive, disclosure in §§ 58-33A-16.4 to 58-33A-16.6 , inclusive, conflict of interest in § 58-33A-16.7 , and documentation in §