1152.110 – PRIVATE PLACEMENT CONTRACTS. (a) In this
Texas Insurance Code § 1152.110
Summary
This law defines private placement contracts as variable annuities or life insurance policies sold exclusively to accredited investors or qualified purchasers. It ensures that these financial products are marketed only to individuals who meet specific financial criteria, thereby protecting less experienced investors.
Applies to variable annuities and life insurance policies.
Only available to accredited investors or qualified purchasers.
Regulates the sale and offering of these financial products.
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In simple terms: Learn about Texas's PRIVATE PLACEMENT CONTRACTS. (a) In this 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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