Regulation .02 Scope.
Regulation .02 Scope.LinkCopy Citation
A.
In General. This chapter applies to any sale or recommendation of an annuity.
B.
Exceptions. Unless otherwise specifically included, this chapter does not apply to transactions involving:
(1)
Direct response solicitations if 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;
(b)
A plan described by 26 U.S.C. §§401(a), 401(k), 403(b), 408(k), or 408(p) if established or maintained by an employer;
(c)
A government or church plan defined in 26 U.S.C. §414, a government or church welfare benefit plan, or a deferred compensation plan of a state or local government or tax-exempt organization under 26 U.S.C. §457; 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.