11 NCAC 12 .0419             FILING AND APPROVAL OF VARIABLE ANNUITY CONTRACTS

After a life insurance company has been granted the authority to write variable annuities the company must submit its variable annuity contract forms to the department for approval. The same requirements which are applicable under existing statutes and rules with respect to the filing and approval of individual and group life insurance and annuity contract forms shall apply to variable annuity contracts.

No company may submit variable annuity contracts for approval until its license has been amended to include the authority to write such variable annuity contracts.

History Note:        Authority G.S. 58-2-40; 58-7-95;

Eff. February 1, 1976;

Readopted Eff. September 26, 1978;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. May 1, 2018.