1115.051 – BEST-INTEREST OBLIGATION. (a) When making a
Texas Insurance Code § 1115.051
Summary
This law requires agents to prioritize the best interests of consumers when recommending annuities. It establishes a presumption of acting in the consumer's best interest if certain care and disclosure standards are met.
Agents must prioritize consumer interests over their own financial gain.
Presumption of best interest applies if care and disclosure requirements are satisfied.
Applies specifically to recommendations regarding annuities.
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In simple terms: Learn about Texas's BEST-INTEREST OBLIGATION. (a) When making a 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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