Louisiana Administrative Code
Title 37 - INSURANCE Part
Part XIII - Regulations
Chapter 117 - Regulation Number 89-Suitability in Annuity Transactions
Section XIII-11707 - Exemptions

Universal Citation: LA Admin Code XIII-11707

Current through Register Vol. 50, No. 9, September 20, 2024

A. Unless otherwise specifically included, this regulation shall not apply to transactions involving:

1. direct response solicitations where there is no recommendation based on information collected from the consumer pursuant to this regulation;

2. contracts used to fund:
a. an employee pension or welfare benefit plan that is covered by the Employee Retirement and Income Security Act (ERISA);

b. a plan described by Sections 401(a) of the Internal Revenue Code (IRC), as amended, if established or maintained by an employer;

c. 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

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. formal prepaid funeral contracts.

AUTHORITY NOTE: Promulgated in accordance with R.S. 22:11, 22:919, 22:1576, and the Administrative Procedure Act, R.S. 49:950 et seq.

Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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