This law requires agents to provide consumers with a specific disclosure form before recommending or selling an annuity. It ensures transparency about the agent's role and relationship with the consumer in the transaction.
Agents must provide a disclosure form before annuity sales.
The form must follow guidelines set by the commissioner.
It includes details about the agent's relationship with the consumer.
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Explain Like I'm 5
In simple terms: Learn about Texas's DISCLOSURE OBLIGATION. (a) Before the 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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