26.1-34.2-01. Exemptions

26.1-34.2-01. Exemptions

Unless otherwise specifically included, this chapter does not apply to recommendations

involving:

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.