1. (1) Any insurer authorized to transact the business of variable life insurance in this state shall submit to the commissioner, in addition to any other materials which may be required by this rule or any other applicable laws or regulations, all of the following:

   1. (a) An annual statement of the business of its variable life insurance separate account or accounts in such form as shall be prescribed by the commissioner.
   2. (b) Prior to the use in this state, a copy of any information furnished to applicants as provided for in R 500.863.
   3. (c) Prior to the use in this state, a copy of any of the forms required by subdivision (a) of R 500.865 and a copy of any of the reports to policyholders as used to satisfy subdivision
   4. (b) of R 500.865.
   5. (d) Such additional information concerning its variable life insurance operations or its variable life insurance separate accounts as the commissioner shall deem necessary.
2. (2) Any material submitted to the commissioner under this rule shall be disapproved if it is found to be false, misleading, incomplete, deceptive, or inaccurate in any material respect and, if previously distributed, the commissioner shall require the distribution of an amended report, which shall previously have been approved after submission pursuant to this subrule.
3. (3) Any material required to be filed with the commissioner, or approved by him, shall be subject to disapproval if at any time it is found by him not to comply with the standards established by this rule.

History: 1979 AC.