1115.0506 – TRANSACTIONS NOT BASED ON RECOMMENDATION;
Texas Insurance Code § 1115.0506
Summary
This law outlines circumstances under which an insurance agent is not obligated to a consumer regarding recommendations. It primarily affects agents and consumers involved in annuity transactions, clarifying when agents can be exempt from certain responsibilities.
Agents are not obligated if no recommendation is made.
Exemptions apply if consumer provides inaccurate information.
Refusal to provide profile information also limits agent obligations.
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In simple terms: Learn about Texas's TRANSACTIONS NOT BASED ON RECOMMENDATION; law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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