Ill. Admin. Code tit. 50, § 3120.30 - Exemptions

Unless otherwise specifically included, this Part shall not apply to transactions involving:

a) Direct response solicitations where there is no recommendation based on information collected from the consumer pursuant to this Part;

b) Contracts used to fund:

1) An employee pension or welfare benefit plan that is covered by the Employee Retirement and Income Security Act (ERISA);

2) A plan described by sections 401(a), 401(k), 403(b), 408(k) or 408(p) of the Internal Revenue Code (IRC) (26 USCS 401 et seq.), as amended, if established or maintained by an employer;

3) 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

4) A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;

c) Settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or

d) Formal prepaid funeral contracts.

Notes

Ill. Admin. Code tit. 50, § 3120.30

Amended at 35 Ill. Reg. 16087, effective September 26, 2011

Amended at 47 Ill. Reg. 2312, effective 2/3/2023