Texas Administrative Code
Title 28 - INSURANCE
Part 1 - TEXAS DEPARTMENT OF INSURANCE
Chapter 3 - LIFE, ACCIDENT, AND HEALTH INSURANCE AND ANNUITIES
Subchapter PP - ANNUITY DISCLOSURES
Division 1 - ANNUITY CONTRACT DISCLOSURES
Section 3.9702 - Applicability and Scope
Current through Reg. 50, No. 13; March 28, 2025
(a) This subchapter applies to all group and individual annuity contracts and certificates except as provided by subsection (b) of this section.
(b) This subchapter does not apply to the following annuity products except as provided in subsection (c) of this section:
(c) Notwithstanding the exemptions specified in subsection (b) of this section, this subchapter applies to an annuity used to fund a plan or arrangement that is funded solely by contributions an employee elects to make, whether on a pre-tax or after-tax basis, if the insurer has been notified that plan participants may choose from among two or more fixed annuity providers and there is a direct solicitation of an individual employee by an agent for the purchase of an annuity contract. As used in this subsection, "direct solicitation" does not include a meeting held by an agent solely for the purpose of educating or enrolling employees in the plan or arrangement.