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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) This chapter applies to any sale of an annuity .
(b) Unless otherwise specifically included, this chapter does not apply to transactions involving:
(1) direct response solicitations if there is no recommendation based on information collected from the consumer under this chapter;
(2) contracts used to fund:
(A) an employee pension benefit plan or employee welfare benefit plan covered by the Employee Retirement Income Security Act of 1974 (29 U.S.C. Section 1001 et seq.);
(B) a plan described by Section 401(a), 401(k), 403(b), 408(k), or 408(p), Internal Revenue Code of 1986, if established or maintained by an employer;
(C) a government or church plan, as defined by Section 414, Internal Revenue Code of 1986, a government or church welfare benefit plan, or a deferred compensation plan of a state or local government or tax exempt organization described under Section 457, Internal Revenue Code of 1986; or
(D) a nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;
(3) settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or
(4) prepaid funeral benefits contracts, as defined by Chapter 154, Finance Code.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 1115.003. Applicability; Exemptions - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1115-003/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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