State RegulationsTX specific✓ Verified · outline & fact-checked · Sep 2026Difficulty 3/5
A Texas applicant for an annuity was not given the buyer's guide and the required disclosure at or before application, triggering the free look under 28 TAC 4.2311. The contract itself already carries a 20-day rescission right under TIC 1116.002. How do the two periods interact?
Select an option to reveal the answer and the full 3-part explanation — free, no signup.
Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under 28 TAC 4.2311(c), the free look period required by that section must begin on the date the consumer receives the annuity contract and must run concurrently with any other free look period required under the Texas Administrative Code, the Texas Insurance Code, or another law of this state. The 15-day rule therefore overlaps the TIC 1116.002 rescission period instead of extending it: the two periods run side by side and are never additive, so the owner's practical deadline is driven by whichever period expires later in time.
Why the other options are wrong
- B) The statute requires concurrency, not stacking; the two periods are never added together.
- C) The 15-day rule does not displace the statutory rescission right under TIC 1116.002; both apply at the same time.
- D) No election is required; the concurrent operation of the periods is fixed by 28 TAC 4.2311(c).
Memory hook
Texas free looks run together, never end to end.