Texas Insurance Code
§ 1115.0505 — AGENTS EXERCISING MATERIAL CONTROL
IN § 1115.0505Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1115. SUITABILITY OF CERTAIN ANNUITY TRANSACTIONS · Art. B. DUTIES OF INSURERS AND AGENTS
Statute text
View on source(a)This subchapter applies to each agent who:
(1)exercises material control or influence in making a recommendation or sale; and
(2)receives direct compensation as a result of the recommendation or sale, regardless of whether the agent has direct contact with the consumer.
(b)Activities that do not constitute material control or influence include providing or delivering marketing or educational materials, product wholesaling or other back office product support, general supervision of an agent, and similar activities.
Legislative history
Added by Acts 2021, 87th Leg., R.S., Ch. 262 (H.B. 1777), Sec. 6, eff. September 1, 2021.