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