Tex. Ins. Code § 1115.0516 · Subchapter B. DUTIES OF INSURERS AND AGENTS
DOCUMENTATION OBLIGATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
At the time of the recommendation or sale, an agent shall:
(1) make a written record of the recommendation and the basis for the recommendation;
(2) if applicable, obtain a statement signed by the consumer on a form prescribed by the commissioner by rule that is substantially similar to the National Association of Insurance Commissioners Consumer Refusal to Provide Information form documenting:
(A) a consumer's refusal to provide consumer profile information; and
(B) a consumer's understanding of the ramifications of failing to provide consumer profile information or providing insufficient consumer profile information; and
(3) if a consumer decides to enter into an annuity transaction that is not based on the agent's recommendation, obtain a statement signed by the consumer on a form prescribed by the commissioner by rule that is substantially similar to the National Association of Insurance Commissioners Consumer Decision to Purchase an Annuity Not Based on a Recommendation, acknowledging that the annuity transaction is not recommended.
Notes and commentary — not statutory text
History
Added by Acts 2021, 87th Leg., R.S., Ch. 262 (H.B. 1777), Sec. 9, eff. September 1, 2021.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1115.htm
- Text hash
- sha256 c4e183e5847c9439fbc9288e9e0b0f53d0526cb85220426bb862f2894def8cfc
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.