N.M. Admin. Code § 13.9.3.12

Current through Register Vol. 35, No. 24, December 23, 2024

Section 13.9.3.12 - TRANSFER OF ASSETS

A. No sale, exchange or other transfer of assets may be made by a company between any of its separate accounts or between any other investment account and one or more of its separate accounts unless, in the case of a transfer into a separate account, the transfer is made solely to establish the account or to support the operation of the contracts with respect to the separate account to which the transfer is made, and unless the transfer, whether into or from a separate account, is made:

(1) by a transfer of cash; or

(2) by a transfer of securities having a valuation which could be readily determined in the marketplace, if that transfer of securities is approved by the superintendent.

B. The superintendent may authorize other transfers among such accounts, if, in his opinion, such transfers would not be inequitable.

N.M. Admin. Code § 13.9.3.12

7/1/97; Recompiled 11/30/01