Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-01 - Insurance Division
Chapter 0780-01-86 - Suitability in Annuity Transactions
Section 0780-01-86-.04 - EXEMPTIONS
Universal Citation: TN Comp Rules and Regs 0780-01-86-.04
Current through September 24, 2024
Unless otherwise specifically included, this Chapter 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 Chapter;
(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), 401(k), 403(b), 408(k), or 408(p) 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: T.C.A. §§ 56-2-301, 56-2-305, 56-3-508, 56-6-112, 56-6-124, and 56-8-101 et seq.
Disclaimer: These regulations may not be the most recent version. Tennessee 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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