Part VII. SUITABILITY IN ANNUITY TRANSACTIONS §431:10D-621 Scope. (a) This part applies to any recommendation or sale of an annuity. (b) This part does not apply to transactions involving: (1) Direct-response solicitations where there is no recommendation based on information collected from the consumer pursuant to this part; or (2) Contracts used to fund: (A) An employee pension or welfare benefit plan that is covered by the Employee Retirement Income Security Act of 1974, P.L. 93-406, as amended; (B) A plan described by section 401(a), 401(k), 403(b), 408(k), or 408(p) of the Internal Revenue Code of 1986, as amended, if established or maintained by an employer; (C) A government plan or church plan defined in section 414 of the Internal Revenue Code of 1986, as amended, a government or church welfare benefit plan, or a deferred compensation plan of a state or local government or tax exempt organization subject to section 457 of the Internal Revenue Code of 1986, as amended; or (D) A non-qualified deferred compensation arrangement established or maintained by an employer or plan sponsor; (3) Settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or (4) Formal prepaid funeral contracts. (c) Nothing in this part shall be construed to affect in any manner any provision of chapter 485A. [L 2007, c 257, pt of §2, §§4, 5, 9; am L 2011, c 108, §3; am L 2022, c 58, pt of §7]
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