[§431:10D‑602]  Applicability of
standards for disclosure.  This part shall apply to all group and
individual annuity contracts and certificates, except:



(1)  Registered or non-registered variable annuities
or other registered products;



(2)  Immediate and deferred annuities that contain no
non-guaranteed elements;



(3)  Annuities used to fund:



(A)  An employee pension plan that is covered
by the Employee Retirement Income Security Act;



(B)  A plan under section 401(a), 401(k), or
403(b) of the Internal Revenue Code, where the plan, for purposes of the
Employee Retirement Income Security Act, is established or maintained by an
employer;



(C)  A governmental or church plan defined in
section 414 of the Internal Revenue Code;



(D)  A deferred compensation plan of a state or
any of its political subdivisions under section 457 of the Internal Revenue
Code;



(E)  A tax-exempt organization under section
457 of the Internal Revenue Code; or



(F)  A nonqualified deferred compensation
arrangement established or maintained by an employer or plan sponsor;



provided that this part shall apply to
annuities used to fund a plan or arrangement that is funded solely by
contributions that an employee elects to make on a pre-tax or after-tax basis,
and where the insurance company has been notified that plan participants may
choose from among two or more fixed annuity providers and there is a direct
solicitation of an individual employee by a producer for the purchase of an
annuity contract.



For the purposes of this paragraph,
"direct solicitation" does not include any meeting held by a producer
solely for the purpose of educating or enrolling employees in the plan or
arrangement;



(4)  Structured settlement annuities;



(5)  Funding agreements; and



(6)  Charitable gift annuities issued pursuant to
paragraphs (1) to (4) of section 431:1-204(c). [L 2006, c 71, pt of §1]



 



Revision Note



 



  Subsection designation deleted pursuant to §23G-15(1).