1. (a) Any company issuing individual variable contracts must mail the following statements to the contractholder at least once in each contract year after the first at the last address known to the company

   1. (1) a statement or statements reporting the investments held in the separate account;

   2. (2) in the case of an annuity contract under which payments have not yet commenced, a statement reporting as of a date not more than four months before the date of mailing,

      1. (A) the number of accumulation units credited to the contract and the dollar value of a unit; or
      2. (B) the value of the contractholder's account; and
      3. (C) in the case of a life insurance policy, a statement of the dollar amount of the death benefit.
2. (b) The company shall submit annually to the director a statement of the business of its separate account or accounts in such form as may be prescribed by the NAIC.

(Eff. 11/8/73, Register 48; am 3/31/82, Register 81)