LIS

Virginia Law

Administrative Code

Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report.

Virginia Administrative Code
Title 14. Insurance
Agency 5. State Corporation Commission, Bureau of Insurance
Chapter 80. Rules Governing Variable Life Insurance
11/21/2024

14VAC5-80-80. Reports to the Commission.

Any insurer authorized to transact the business of variable life insurance in this Commonwealth shall submit to the Commission, in addition to any other materials which may be required by this chapter or any other applicable laws or regulations;

a. an annual statement of the business of its separate account or accounts in such form as may be prescribed by the Commission; and

b. prior to its use in this Commonwealth any information furnished to applicants as provided for in Article VII (14VAC5-80-300) and

c. prior to its use in this Commonwealth the form of any of the Reports to Policyholders as provided for in Article IX (14VAC5-80-320); and

d. such additional information concerning its variable life insurance operations or its separate accounts as the Commission shall deem necessary.

Any material submitted to the Commission under this section shall be disapproved if it is found to be false, misleading, deceptive, or inaccurate in any material respect and, if previously distributed, the Commission may require the distribution of amended material.

Statutory Authority

§§ 12.1-13 and 38.2-3313 of the Code of Virginia.

Historical Notes

Derived from Regulation 26, Case No. INS920077, Article IV, § 6, eff. June 15, 1992.

Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon. To ensure the information incorporated by reference is accurate, the reader is encouraged to use the source document described in the regulation.

As a service to the public, the Virginia Administrative Code is provided online by the Virginia General Assembly. We are unable to answer legal questions or respond to requests for legal advice, including application of law to specific fact. To understand and protect your legal rights, you should consult an attorney.