Section 1115.051 - Best-Interest Obligation(a) When making a recommendation of an annuity, an agent shall act in the best interest of the consumer under the circumstances known to the agent at the time the recommendation is made, without placing the agent's or the insurer's financial interest ahead of the consumer's interest.(b) An agent is presumed to act in the best interest of the consumer if the agent satisfies the care, disclosure, conflict of interest, and documentation obligations described by this subchapter.(c) Repealed by Acts 2021, 87th Leg., R.S., Ch. 262 (H.B. 1777), Sec. 18(2), eff. September 1, 2021.(d) Repealed by Acts 2021, 87th Leg., R.S., Ch. 262 (H.B. 1777), Sec. 18(2), eff. September 1, 2021.(e) Repealed by Acts 2021, 87th Leg., R.S., Ch. 262 (H.B. 1777), Sec. 18(2), eff. September 1, 2021.(f) Repealed by Acts 2021, 87th Leg., R.S., Ch. 262 (H.B. 1777), Sec. 18(2), eff. September 1, 2021.Tex. Ins. Code § 1115.051
Amended by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 262,Sec. 18, eff. 9/1/2021.Amended by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 262,Sec. 8, eff. 9/1/2021.Amended by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 262,Sec. 7, eff. 9/1/2021.Amended By Acts 2011, 82nd Leg., R.S., Ch. 1156, Sec. 9, eff. 9/1/2011.Added by Acts 2007, 80th Leg., R.S., Ch. 736, Sec. 1, eff. 9/1/2007.