Section 96.03 - ExemptionsUnless otherwise specifically included, 211 CMR 96.00 shall not apply to recommendations or transactions involving:
(1) Direct response solicitations where there is no recommendation based on information collected from the consumer pursuant to 211 CMR 96.00.(2) Contracts used to fund:(a) An employee pension or welfare benefit plan that is covered by the Employee Retirement and Income Security Act (ERISA);(b) A plan described by the Internal Revenue Code (IRC), as amended, §§ 401(a), 401(k), 403(b), 408(k) or 408(p), if established or maintained by an employer;(c) A government or church plan defined in IRC § 414, a government or church welfare benefit plan, or a deferred compensation plan of a state or local government or tax exempt organization under IRC § 457;(d) A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;(3) Settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or(4) Formal prepaid funeral contracts.Amended by Mass Register Issue 1316, eff. 7/1/2016.Amended by Mass Register Issue 1484, eff. 12/9/2022.