Texas Insurance Code

§ 1115.003 — APPLICABILITY; EXEMPTIONS

IN § 1115.003Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1115. SUITABILITY OF CERTAIN ANNUITY TRANSACTIONS · Art. A. GENERAL PROVISIONS

Statute text

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(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;

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Legislative history

Acts 2011, 82nd Leg., R.S., Ch. 1156 (H.B. 2277), Sec. 8, eff. September 1, 2011. Acts 2021, 87th Leg., R.S., Ch. 262 (H.B. 1777), Sec. 4, eff. September 1, 2021.