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

1. (1) Direct response solicitations where there is no recommendation based on information collected from the consumer pursuant to this part;

2. (2) Contracts used to fund:

   1. (A) An employee pension or welfare benefit plan that is covered by the Employee Retirement Income Security Act of 1974 (ERISA);
   2. (B) A plan described by sections 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;
   3. (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; or
   4. (D) A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;
3. (3) Settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or
4. (4) Any annuity contract or certificate that is issued to fund a prepaid funeral benefits contract as defined in Arkansas Code § 23-40-103(15) or any similar annuity contract written through or in connection with a funeral home with the purpose of providing funds for final expenses and having similar underwriting characteristics as prepaid funeral benefits contracts, or any annuity contract or certificate that is issued to fund a prearrangement as defined in Arkansas Code § 23-40-103(14).

Codification Notes: The Employee Retirement Income Security Act of 1974 (ERISA) is codified generally at 29 U.S.C. § 1001 et seq.