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

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

2. (b) Contracts used to fund:

   1. (1) An employee pension or welfare benefit plan that is covered by the Employee Retirement and Income Security Act (ERISA);
   2. (2) A plan described by Sections 401(a), 401(k), 403(b), 408(k) or 408(p) of the Internal Revenue Code (IRC), as amended, if established or maintained by an employer;
   3. (3) A government or church plan defined in Section 414 of the IRC, 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 IRC; or
   4. (4) A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;
3. (c) Settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or
4. (d) Formal prepaid funeral contracts.

Source. #9374, eff 1-30-09; ss by #10654, eff 1-1-15; ss by #13873, eff 2-16-24