Section 1115.003 - Applicability; Exemptions(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.Tex. Ins. Code § 1115.003
Amended by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 262,Sec. 4, eff. 9/1/2021.Amended By Acts 2011, 82nd Leg., R.S., Ch. 1156, Sec. 8, eff. 9/1/2011.Added by Acts 2007, 80th Leg., R.S., Ch. 736, Sec. 1, eff. 9/1/2007.