Section 26-A8402. EXEMPTIONS

 

8402.1Unless otherwise specifically included, this chapter shall not apply to transactions involving:

 

(a)Direct response solicitations where there is no recommendation based on information collected from the consumer pursuant to this chapter; or

 

(b)Contracts used to fund:

 

(1)An employee pension or welfare benefit plan that is covered by the Employee Retirement and Income Security Act (ERISA);

 

(2)A plan described by sections 401(a), 401(k), 403(b), 408(k) or 408(p) of the Internal Revenue Code (IRC), as amended, if established or maintained by an employer;

 

(3)A government or church plan defined in section 414 of the IRC, a government or church welfare benefit plan, or a deferred compensation plan of a state or local government or tax exempt organization under section 457 of the IRC;

 

(4)A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;

 

(5)Settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or

 

(6)Formal prepaid funeral contracts.

 

authority

The Commissioner of the Department of Insurance, Securities, and Banking, pursuant to the authority set forth in section 125 of the Insurance Trade and Economic Development Amendment Act of 2000, effective April 3, 2001 (D.C. Law 13-265; D.C. Official Code § 31-2231.25 (2009 Repl.)).

source

Notice of Final Rulemaking published at 57 DCR 12209 (December 24, 2010).