Section 3.9702 - Applicability and Scope(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:(1) immediate and deferred annuities that contain no non-guaranteed elements;(2) annuities used to fund: (A) an employee pension plan subject to the Employee Retirement Income Security Act of 1974 (29 U.S.C. Section 1001 et seq.);(B) a plan described by the Internal Revenue Code of 1986 §§401(a), 401(k), or 403(b), in which the plan, for purposes of the Employee Retirement Income Security Act of 1974 (29 U.S.C. Section 1001 et seq.), is established or maintained by an employer;(C) a governmental or church plan as defined by the Internal Revenue Code of 1986 §414, or a deferred compensation plan of a state or local government or a tax-exempt organization under the Internal Revenue Code of 1986 §457;(D) a nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor; or(E) prepaid funeral benefits, as defined by the Finance Code Chapter 154;(3) a structured settlement annuity;(4) a charitable gift annuity qualified under the Insurance Code Chapter 102; or(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.28 Tex. Admin. Code § 3.9702
The provisions of this §3.9702 adopted to be effective March 1, 2011, 36 TexReg 1281