- (1) An insurer issuing an individual variable contract shall deliver to the contract holder at least once in each contract year after the first contract year a report of the investments held in the separate account.
(2) An insurer issuing an individual variable contract shall deliver to the contract holder at least once in each contract year after the first contract year a report of the following information as of a date no earlier than four months before the statement's delivery date:
(i) for an annuity contract when payments have not started:
- (A) the number of accumulation units credited to the contract and the dollar value of a unit; or
- (B) the contract holder's account value; and
- (ii) for a life insurance policy, the death benefit dollar amount.
- (3) An insurer shall submit annually to the commissioner a statement regarding the business of the insurer's separate account by the date and in a form prescribed by the NAIC.
KEY: variable insurance
Date of Last Change: May 11, 2022
Notice of Continuation: December 8, 2021
Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-20-106