Texas § 1115.0516 DOCUMENTATION OBLIGATION.

Texas Statutes

§ 1115.0516 — DOCUMENTATION OBLIGATION.

Texas § 1115.0516

Code INInsurance Code

This text of Texas § 1115.0516 (DOCUMENTATION OBLIGATION.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 1115.0516 (2026).

Text

Sec. 1115.0516. DOCUMENTATION OBLIGATION. At the time of the recommendation or sale, an agent shall:

(1)make a written record of the recommendation and the basis for the recommendation;

(2)if applicable, obtain a statement signed by the consumer on a form prescribed by the commissioner by rule that is substantially similar to the National Association of Insurance Commissioners Consumer Refusal to Provide Information form documenting:

(A)a consumer's refusal to provide consumer profile information; and

(B)a consumer's understanding of the ramifications of failing to provide consumer profile information or providing insufficient consumer profile information; and

(3)if a consumer decides to enter into an annuity transaction that is not based on the agent's recommendation, obtain a statem

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Sec. 1115.0516. DOCUMENTATION OBLIGATION. At the time of the recommendation or sale, an agent shall:
(1) make a written record of the recommendation and the basis for the recommendation;
(2) if applicable, obtain a statement signed by the consumer on a form prescribed by the commissioner by rule that is substantially similar to the National Association of Insurance Commissioners Consumer Refusal to Provide Information form documenting:
(A) a consumer's refusal to provide consumer profile information; and
(B) a consumer's understanding of the ramifications of failing to provide consumer profile information or providing insufficient consumer profile information; and
(3) if a consumer decides to enter into an annuity transaction that is not based on the agent's recommendation, obtain a statement signed by the consumer on a form prescribed by the commissioner by rule that is substantially similar to the National Association of Insurance Commissioners Consumer Decision to Purchase an Annuity Not Based on a Recommendation, acknowledging that the annuity transaction is not recommended.