11 NCAC 12 .0439 INFORMATION FURNISHED TO APPLICANTS
An insurer delivering or issuing for delivery in this state any variable life insurance policies shall deliver to the applicant for the policy, and obtain a written acknowledgment of receipt from such applicant coincident with or prior to the execution of the application, a prospectus included in a registration statement relating to the policies which satisfied the requirements of the Securities Act of 1933 and which was declared effective by the Securities and Exchange Commission, or if the policies are exempted from the registration requirements of such act by section 3(a)(2) thereof, the insurer shall furnish all information and reports required by the Employee Retirement Income Security Act of 1974.
History Note: Authority G.S. 58-2-40(1); 58-7-95;
Eff. January 1, 1978;
Readopted Eff. September 26, 1978.