34 Tex. Admin. Code § 87.11 - Advertising Material and Solicitation

(a) Definition. In this subsection, the term "advertising material" includes:

(1) descriptive literature or advertisements of an investment provider or TPA representative that are published in newspapers, magazines, or other publications;

(2) material an investment provider or TPA representative encloses in mailing to participants or employees;

(3) scripts used in television or radio advertisements or in telephone solicitations;

(4) displays on billboards and similar media;

(5) scripts, displays and any other plan material used on the internet;

(6) descriptive literature, sales talks, and sales aids that an investment provider or TPA uses during presentations to participants or employees on a group or individual basis;

(7) all material used to solicit:

(A) increased deferrals from existing participants;

(B) renewals of investments in qualified investment products; or

(C) transfers; and

(8) material distributed by an investment provider or TPA to a participant who has invested deferrals and investment income in one or more of the qualified investment products.

(b) General requirements for advertising material.

(1) All advertising material must refer to the plan.

(2) An investment provider or TPA may not use or authorize a vendor representative to use advertising material without the plan administrators prior written approval.

(3) If an investment provider or TPA does not intend to use or authorize a vendor representative to use any advertising material, the investment provider or TPA must provide written notice of that intention to the plan administrator.

(4) An investment provider or TPA representative may not use advertising material in connection with a qualified investment product until the qualified vendor offering the product has authorized the use of the material.

(5) In the prior plan, advertising material may not contain information or statements that conflict with or are misleading concerning the qualified investment product being advertised and it may not state that loans are permitted.

(6) An insurance company must tailor its advertising material to the plan.

(7) The plan administrator may not approve advertising material used by an insurance company or by a prior plan vendor representative of an insurance company until the plan administrator has obtained the Texas Department of Insurance's written approval of the material.

(8) No marketing or solicitation is allowed on prior Plan products after August 31, 2000.

(c) Endorsements.

(1) If a prior plan vendor receives an endorsement of one or more of its qualified investment products, the prior plan vendor shall immediately send written notice of the endorsement to the plan administrator.

(2) An endorser of a qualified investment product may not use advertising material until the endorser has received the plan administrator's written approval of the material.

(3) Advertising material that contains information about an endorsement must state:

(A) the relationship between the prior plan vendor and the endorser; and

(B) the basis for the endorsement.

Notes

34 Tex. Admin. Code § 87.11

The provisions of this §87.11 adopted to be effective March 28, 1991, 16 TexReg 1560; amended to be effective January 10, 1992, 16 TexReg 7743; amended to be effective November 23, 1992, 17 TexReg 7911; amended to be effective November 11, 1996, 21 TexReg 10766; amended to be effective September 10, 1998, 23 TexReg 9067; amended to be effective January 5, 2003, 27 TexReg 12370; amended to be effective September 30, 2004, 29 TexReg 9204; amended to be effective September 14, 2006, 31 TexReg 7367