1. (a) Sales, exchanges or other transfers of assets may be made by an insurer between its separate accounts or between another investment account and one or more of its separate accounts if the transfer into or from a separate account is made by one of the following methods:

   1. (1) A transfer of cash.
   2. (2) A transfer of assets having a valuation which could be readily determined in the marketplace.
   3. (3) Other transfers the Commissioner may approve.
2. (b) The separate account shall have sufficient net investment income and readily marketable assets to meet anticipated withdrawals under policies funded by the account.

Source

The provisions of this § 82.44 adopted August 4, 1978, effective September 5, 1978, 8 Pa.B. 2171; amended April 28, 1989, effective April 29, 1989, 19 Pa.B. 1835; corrected June 30, 1989, effective retroactive to April 29, 1989, 19 Pa.B. 2754. Immediately preceding text appears at serial page (137050).

Cross References

This section cited in 31 Pa. Code § 82.41 (relating to applicability); and 31 Pa. Code § 82.45 (relating to limitations on ownership).