Section 26-16-402 - Applicability of article(a) This article does not apply to any: (ii) Group annuity purchased under a retirement plan or plan of deferred compensation established or maintained by an employer, an employee organization, or both, other than a plan providing individual retirement accounts or annuities under Section 408 of the Internal Revenue Code; (iii) Premium deposit fund; (vii) Deferred annuity contract after annuity payments have commenced; (viii) Reversionary annuity; or (ix) Contract which is delivered outside this state through an agent or other representative of the company issuing the contract.