Texas Insurance Code 4004.202 – Required Continuing Education Regarding Annuities
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(a) This section applies to a resident agent who:
(1) sells, solicits, or negotiates a contract for an annuity in this state; or
(2) represents or purports to represent an insurer in relation to such an annuity.
(b) Each agent described by Subsection (a) must complete eight hours of continuing education that specifically relates to annuities during the agent’s two-year licensing period.
Terms Used In Texas Insurance Code 4004.202
- 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.
- Contract: A legal written agreement that becomes binding when signed.
(c) The continuing education required under this section may be used to satisfy the continuing education requirements under Subchapter B.