Section 3120.30  Exemptions

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

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

b)         Contracts used to fund:

1)         An employee pension or welfare benefit plan that is covered by the Employee Retirement and Income Security Act (ERISA);

2)         A plan described by sections 401(a), 401(k), 403(b), 408(k) or 408(p) of the Internal Revenue Code (IRC) (26 USCS 401 et seq.), as amended, if established or maintained by an employer;

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)         A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;

c)         Settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or

d)         Formal prepaid funeral contracts.

(Source:  Amended at 47 Ill. Reg. 2312, effective February 3, 2023)