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

Current through Register Vol. 46, No. 15, April 8, 2022

Unless otherwise specifically included, this Part shall not apply to recommendations 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;
4) A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;
5) Settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or
6) Formal prepaid funeral contracts.

Notes

Ill. Admin. Code tit. 50, § 3120.30

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

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