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31.09.10.00.htm 31.09.10.00. Title 31 MARYLAND INSURANCE ADMINISTRATION Subtitle 09 LIFE INSURANCE AND ANNUITIES Chapter 10 Separate Account Investments under Funding Agreements Authority: Insurance Article, §16-113, Annotated Code of Maryland
31.09.10.01.htm 31.09.10.01. 01 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) "Funding agreement" means a contract described in Insurance Article, §16-113, Annotated Code of Maryland, whereby an insurer may accept and accumulate funds and make one or more payments at future dates in amounts that are not based on mortality or morbidity contingencies.2) "Separate account" means an account:.
31.09.10.02.htm 31.09.10.02. 02 Plan of Operation Requirements.. A. A Maryland-domiciled insurer may not issue a funding agreement for which a separate account will be used unless prior to delivery or issuance for delivery in the State, the form of the contract and the plan of operation have been filed with and approved by the Commissioner.B. A Maryland-domiciled insurer shall include in its plan of operation for a funding agreement for which a separate account will be used a statement o
31.09.10.03.htm 31.09.10.03. 03 Investment Requirements.. A. Application of Insurance Article, §5-511, Annotated Code of Maryland.. 1) Subject to §A(2) of this regulation, and Insurance Article, §16-113(d)3) Annotated Code of Maryland, amounts allocated to a separate account and any resulting accumulations shall be invested and reinvested in accordance with the classes of investments, and the limitations on classes of investments, set forth in Insurance Article, §5-511, Annotated Code of Maryland.
31.09.10.9999.htm 31.09.10.9999. Administrative History Effective date: June 19, 2006 (33:12 Md. R. 999).
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