Administrative Code

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Virginia Administrative Code
Title 14. Insurance
Agency 5. State Corporation Commission, Bureau of Insurance
Chapter 20. Variable Contract Regulations

14VAC5-20-60. Required Reports.

Article VI
Required Reports

A. Any company issuing individual variable contracts providing benefits in variable amounts shall mail to the contractholder at least once in each contract year after the first at his last address known to the company, a statement or statements reporting the investments held in the separate account and, in the case of contracts under which payments have not yet commenced, a statement reporting as of a date not more than four months previous to the date of mailing, (i) the number of accumulation units credited to such contracts and the dollar value of a unit, or (ii) the value of the contractholder's account.

B. The company shall submit annually to the Commission a statement of the business of its separate account or accounts in such form as may be prescribed by the National Association of Insurance Commissioners.

Statutory Authority

§ 38.2-3113 of the Code of Virginia.

Historical Notes

Derived from Regulation 3, Case No. 18623; December 19, 1968, eff. March 1, 1969.

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