| 1 | 1 | | H.B. No. 4492 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | AN ACT |
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| 5 | 5 | | relating to annuities registered under the Securities Act of 1933. |
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| 6 | 6 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 7 | 7 | | SECTION 1. Section 1115.054(a), Insurance Code, is amended |
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| 8 | 8 | | to read and provide as follows: |
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| 9 | 9 | | (a) Compliance with the conduct rules of the Financial |
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| 10 | 10 | | Industry Regulatory Authority [National Association of Securities |
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| 11 | 11 | | Dealers] relating to suitability, or the rules of another national |
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| 12 | 12 | | organization recognized by the commissioner, satisfies the |
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| 13 | 13 | | requirements under this chapter for the recommendation of |
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| 14 | 14 | | [variable] annuities registered under the Securities Act of 1933 |
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| 15 | 15 | | (15 U.S.C. Section 77a et seq.) or rules or regulations adopted |
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| 16 | 16 | | under that Act. |
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| 17 | 17 | | SECTION 2. This Act takes effect September 1, 2009. |
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| 18 | 18 | | ______________________________ ______________________________ |
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| 19 | 19 | | President of the Senate Speaker of the House |
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| 20 | 20 | | I certify that H.B. No. 4492 was passed by the House on May 7, |
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| 21 | 21 | | 2009, by the following vote: Yeas 146, Nays 0, 1 present, not |
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| 22 | 22 | | voting. |
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| 23 | 23 | | ______________________________ |
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| 24 | 24 | | Chief Clerk of the House |
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| 25 | 25 | | I certify that H.B. No. 4492 was passed by the Senate on May |
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| 26 | 26 | | 26, 2009, by the following vote: Yeas 31, Nays 0. |
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| 27 | 27 | | ______________________________ |
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| 28 | 28 | | Secretary of the Senate |
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| 29 | 29 | | APPROVED: _____________________ |
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| 30 | 30 | | Date |
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| 31 | 31 | | _____________________ |
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| 32 | 32 | | Governor |
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