To the extent an insurer deems it necessary to comply with any applicable state or federal laws, with respect to any separate account, including, without limitation, a separate account which is a management investment company or unit investment trust, the insurer may provide for persons having an interest therein appropriate voting and other rights and special procedures for the conduct of the business of the account, including without limitation special rights and procedures relating to investment policy, investment advisory services, selection of independent public accountants, and the selection of a committee, the members of which need not be otherwise affiliated with the company, to manage the business of the account.

Authority: Insurance Article, §§2-109 and 16-601—16-603, Annotated Code of Maryland

Effective date: July 1, 1979 (6:10 Md. R. 841)

Regulation .04C amended effective December 27, 1983 (10:24 Md. R. 2189)

Regulation .11A amended effective August 22, 1988 (15:17 Md. R. 2048)

Chapter recodified from COMAR 09.30.43 to COMAR 31.09.02 effective September 7, 1998 (25:18 Md. R. 1439)

Regulation .02B amended effective May 21, 2018 (45:10 Md. R. 504)

Regulation .03C amended effective May 21, 2018 (45:10 Md. R. 504)

Regulation .03E amended effective April 12, 2004 (31:7 Md. R. 587)

Regulation .04 amended effective May 21, 2018 (45:10 Md. R. 504)

Regulation .04C amended effective August 6, 2012 (39:15 Md. R. 965)

Regulation .06G amended effective October 11, 2004 (31:20 Md. R. 1487)

Regulation .09A amended effective May 21, 2018 (45:10 Md. R. 504)

Regulation .09C adopted effective May 21, 2018 (45:10 Md. R. 504)

Regulation .11 amended effective April 22, 2019 (46:8 Md. R. 402)

Regulation .11A amended effective July 27, 2020 (47:15 Md. R. 713)