Texas Insurance Code 4004.203 – Program Certification Requirements
(a) The commissioner by rule shall adopt criteria for continuing education programs used to satisfy the requirements of Section 4004.202. Those criteria must include:
(1) topics related specifically to annuities;
(2) state laws and rules related to annuities, including requirements adopted under Chapter 1115;
(3) prohibited sales practices regarding annuities;
(4) recognition of indicators that a prospective insured may lack the short-term memory or judgment to knowingly purchase an annuity; and
(5) fraudulent and unfair trade practices regarding the sale of annuities.
(b) Subject matter determined by the commissioner to be primarily intended to promote the sale or marketing of annuities does not qualify as continuing education for purposes of this subchapter.
Terms Used In Texas Insurance Code 4004.203
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- Rule: includes regulation. See Texas Government Code 311.005
(c) Subchapter C applies to continuing education programs described by Subsection (a) and training under Section 1115.056. Any training program disapproved under Subsection (b) shall be presumed invalid for certification under Subchapter C unless the program is approved in writing by the commissioner.