(1) A financial institution, and any person selling insurance with a cash value or a cash accumulation component on behalf of a financial institution, shall disclose to the financial institution's customers or members, and on any advertisements or promotional material, that insurance offered, recommended, sponsored, or sold by the financial institution, or on the premises of the financial institution:
Is not a deposit;
Is not insured by the federal deposit insurance corporation, the national credit unionshare insurance fund, or any agency of the state of Colorado or the federal government;
Is not guaranteed by the financial institution or any affiliated insured depository institution;
May involve investment risk, including loss of principal; and
May be purchased from a producer of the customer's choice and that the customer'schoice of another insurance provider will not affect the customer's relationship with the financial institution.
Source: L. 97: Entire section added, p. 429, § 4, effective April 24. L. 2001: (1)(e) amended, p. 1208, § 27, effective January 1, 2002.