Rhode Island Code of Regulations
Title 230 - Department of Business Regulation
Chapter 20 - Insurance
Subchapter 25 - LIFE AND ANNUITIES
Part 1 - Suitability in Annuity Transactions
Section 230-RICR-20-25-1.4 - Exemptions
Universal Citation: 230 RI Code of Rules 20 25 1.4
Current through September 18, 2024
A. Unless otherwise specifically included, this Part 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 Part;
2. Contracts used to
fund:
a. An employee pension or welfare
benefit plan that is covered by the Employee Retirement Income Security Act
(ERISA), Pub. Law 93-406, as amended;
b. A plan described by the Internal Revenue
Code (IRC), 26 U.S.C.
§§
401(a),
401(k),
403(b),
408(k) or
408(p), as
amended, if established or maintained by an employer;
c. A government or church plan defined in
§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 §457 of the IRC;
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.
Disclaimer: These regulations may not be the most recent version. Rhode Island 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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