Sec. 1115.0515. CONFLICT OF INTEREST OBLIGATION. (a) An agent shall take reasonable steps to discover a material conflict of interest, including a material conflict of interest related to an ownership interest.
(b) An agent shall:
(1) identify and avoid a material conflict of interest; or
(2) reasonably manage and disclose the conflict.
Added by Acts 2021, 87th Leg., R.S., Ch. 262 (H.B. 1777), Sec. 9, eff. September 1, 2021.
Structure Texas Statutes
Title 7 - Life Insurance and Annuities
Subtitle A - Life Insurance in General
Chapter 1115 - Suitability of Certain Annuity Transactions
Subchapter B. Duties of Insurers and Agents
Section 1115.0505. Agents Exercising Material Control
Section 1115.0506. Transactions Not Based on Recommendation; Certain Exemptions From Subchapter
Section 1115.0507. Insurer Obligations
Section 1115.0508. Additional Licensure Not Required
Section 1115.051. Best-Interest Obligation
Section 1115.0513. Care Obligation
Section 1115.0514. Disclosure Obligation
Section 1115.0515. Conflict of Interest Obligation
Section 1115.0516. Documentation Obligation
Section 1115.052. Supervision System
Section 1115.0521. Prohibited Practices
Section 1115.053. Certification Requirements