North Dakota Code 26.1-34.2-01 – Exemptions
Unless otherwise specifically included, this chapter does not apply to recommendations involving:
Terms Used In North Dakota Code 26.1-34.2-01
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Organization: includes a foreign or domestic association, business trust, corporation, enterprise, estate, joint venture, limited liability company, limited liability partnership, limited partnership, partnership, trust, or any legal or commercial entity. See North Dakota Code 1-01-49
- Process: means a writ or summons issued in the course of judicial proceedings. See North Dakota Code 1-01-49
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
1. Direct response solicitations if there is no recommendation based on information collected from the consumer pursuant to this chapter; and
2. Contracts used to fund:
a. An employee pension or welfare benefit plan that is covered by the Employee Retirement and Income Security Act; b. A plan described by section 401(a), 401(k), 403(b), 408(k), or 408(p) of the Internal Revenue Code, as amended, if established or maintained by an employer; c. A government or church plan defined in section 414 of the Internal Revenue Code, 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 Internal Revenue Code; d. A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor; e. Settlements of or assumptions of liabilities associated with personal injury litigation or a dispute or claim resolution process; or
f. Formal prepaid funeral contracts.