N.M. Admin. Code § 13.9.20.8

Current through Register Vol. 35, No. 21, November 5, 2024

Section 13.9.20.8 - EXCEPTIONS

Unless otherwise specifically stated, this rule shall not apply to transactions involving:

A. a direct response solicitation when there is no recommendation based on information collected from the consumer pursuant to this rule;

B. a contract used to fund:

(1) an employee pension or welfare benefit plan that is covered by ERISA;

(2) a plan described by Sections 401(a), 401(k), 403(b), 408(k) or 408(p) of the IRC, as amended, if established or maintained by an employer;

(3) a government or church plan defined in Section 414 of the IRC, a government or church welfare benefit plan, or a deferred compensation plan of a state or local government or tax-exempt organization under Section 457 of the IRC; or

(4) a nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;

C. a settlement of or assumption of liability associated with personal injury litigation or any dispute or claim resolution process; or

D. a formal prepaid funeral contract.

N.M. Admin. Code § 13.9.20.8

Adopted by New Mexico Register, Volume XXXIII, Issue 05, March 8, 2022, eff. 10/1/2022