Section 4.2304 - Definitions(a) Words and terms defined in Insurance Code Chapter 102, concerning Charitable Gift Annuities, have the same meaning when used in this subchapter.(b) The following words and terms, when used in this subchapter, have the following meanings unless the context clearly indicates otherwise. (1) Agent--An individual who holds a license under Insurance Code Chapter 4054, concerning Life, Accident, and Health Agents, and who sells, solicits, or negotiates annuities in this state.(2) Buyer's guide--A document specified as a buyer's guide and adopted by the National Association of Insurance Commissioners (NAIC) to be used in implementation of the NAIC Annuity Disclosure Model Regulation.(3) Contract owner--The owner named in the annuity contract or, in the case of a group annuity contract, the certificate holder.(4) Disclosure document--A document intended for consumers that provides information regarding the features and restrictions of a specific annuity product and that satisfies the requirements of § 4.2309 of this title (relating to Disclosure Document).(5) Funding agreement--An agreement for an insurer to accept and accumulate funds and to make one or more payments at future dates in amounts that are not based on mortality or morbidity contingencies.(6) Generic name--A short title descriptive of the annuity contract being illustrated or for which an applicant is applying, such as "single premium deferred annuity."(7) Structured settlement annuity--A "qualified funding asset," as defined by the Internal Revenue Code of 1986 §130(d), or an annuity that would be a qualified funding asset but for the fact that the annuity is not owned by an assignee under a qualified assignment.28 Tex. Admin. Code § 4.2304
Adopted by Texas Register, Volume 49, Number 03, January 19, 2024, TexReg 0261, eff. 1/24/2024