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By: Eiland (Senate Sponsor - Ellis) |
H.B. No. 4492 |
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(In the Senate - Received from the House May 8, 2009; |
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May 8, 2009, read first time and referred to Committee on State |
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Affairs; May 19, 2009, reported favorably by the following vote: |
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Yeas 8, Nays 0; May 19, 2009, sent to printer.) |
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A BILL TO BE ENTITLED
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AN ACT
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relating to annuities registered under the Securities Act of 1933. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1115.054(a), Insurance Code, is amended |
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to read and provide as follows: |
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(a) Compliance with the conduct rules of the Financial |
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Industry Regulatory Authority [National Association of Securities
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Dealers] relating to suitability, or the rules of another national |
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organization recognized by the commissioner, satisfies the |
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requirements under this chapter for the recommendation of |
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[variable] annuities registered under the Securities Act of 1933 |
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(15 U.S.C. Section 77a et seq.) or rules or regulations adopted |
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under that Act. |
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SECTION 2. This Act takes effect September 1, 2009. |
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