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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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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 4492 was passed by the House on May 7, |
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2009, by the following vote: Yeas 146, Nays 0, 1 present, not |
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voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 4492 was passed by the Senate on May |
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26, 2009, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: _____________________ |
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Date |
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_____________________ |
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Governor |