11 NCAC 12 .0423             REQUIRED REPORTS ON VARIABLE ANNUITY BUSINESS

Any company issuing individual variable annuity contracts shall mail to the contract holder at least once in each contract year after the first year 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:

(1)           the number of accumulation units credited to such contracts and the dollar value of a unit, or

(2)           the value of the contract holder's account.

 

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

Eff. February 1, 1976;

Readopted Eff. September 26, 1978;

Amended Eff. July 18, 2002.