Mich. Admin. Code R. 500.855
Separate accounts; assets.
(By authority conferred on the commissioner of insurance by section 210 of Act No. 218 of the Public Acts of 1956, as amended, being S500.210 of the Michigan Compiled Laws)Insurance
The insurer shall maintain, in each variable life insurance separate account, assets with a fair market value at least equal to the greater of the valuation reserves for the variable portion of the variable life insurance policies or the benefit base for such policies.
History: 1979 AC; 1988 AACS.