11 NCAC 12 .0420             APPROVAL OF CONTRACTS: ADDITIONAL INFORMATION REQUIRED

A company submitting variable annuity contracts to the Department for approval shall furnish the following information with each variable annuity contract filing:

(1)           Evidence that a copy of all appropriate information has been registered with the Securities and Exchange Commission,

(2)           A copy of all sales promotion material to be used in North Carolina,

(3)           A copy of the variable annuity application form,

(4)           A copy of the "Suitability Questionnaire" form, and

(5)           A copy of all proposed riders to be used with the variable annuity contract.

The "Suitability Questionnaire" form required by this Rule may be a separate form or a part of the policy application and shall contain questions designed to determine whether the proposed variable annuity contract meets the reasonable objectives and needs of the applicant.

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

Eff. February 1, 1976;

Readopted Eff. September 26, 1978;

Amended Eff. February 1, 1992; April 1, 1989;

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