28 Tex. Admin. Code § 4.2308 - Required Consumer Notices
(a) If an application
for an annuity contract or certificate is taken in a face-to-face meeting, the
applicant must be given at or before the time of application both a disclosure
document and the appropriate buyer's guide specified in §
4.2310 of this title (relating to
Buyer's Guide).
(b) If the
application is taken by means other than in a face-to-face meeting, the
applicant must be sent, not later than the fifth business day after the date on
which the completed application is received by the insurer, both a disclosure
document and the appropriate buyer's guide specified in §
4.2310 of this title.
(c) If the insurer receives the application
as a result of a direct solicitation through the mail, the insurer's providing
the appropriate buyer's guide and a disclosure document in a mailing inviting
prospective applicants to apply for an annuity contract or certificate
satisfies the requirement in subsection (b) of this section that the
appropriate buyer's guide and the disclosure document be provided not later
than the fifth business day after the date of receipt of the
application.
(d) If the application
is received through the internet, and if the insurer takes reasonable steps to
ensure that the appropriate buyer's guide and a disclosure document are
available for viewing and printing on the insurer's website and are opened or
acknowledged by the prospective applicant, the provided buyer's guide and
disclosure document will be deemed to satisfy the requirement that the
appropriate buyer's guide and the disclosure document be provided not later
than the fifth business day after the date of receipt of the
application.
(e) A solicitation for
an annuity contract that is provided in a manner other than a face-to-face
meeting must include a statement that the proposed applicant may contact the
insurer for a free annuity buyer's guide.
(f) Insurers receiving an application for
private placement contracts as defined by Insurance Code §
1152.110(a),
concerning Private Placement Contracts, are not required to provide the buyer's
guide specified in §
4.2310 of this title.
(g) This section applies regardless of
whether an insurer is providing a 15-day free look period like that required in
§
4.2311(a) of
this title (relating to Free Look Period) before the adoption of this
subchapter or whether the insurer begins providing the 15-day free look period
in accordance with §
4.2311(a) of
this title.
Notes
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