Section 45-04-02-07 - Required report for variable annuity contracts1. Any company issuing individual variable annuity contracts shall mail to the contract holder at least once in each contract year after the first at the contract holder's last address known to the company a statement or statements reporting the investments held in the separate account. The company shall submit annually to the commissioner a statement of the business of its separate account or accounts in such form as may be prescribed by the national association of insurance commissioners. 2. Any company issuing individual variable annuity contracts shall mail to the contract holder at least once in each contract year after the first at the contract holder's last address known to the company a statement reporting as of a date not more than four months previous to the date of mailing, in the case of an annuity contract under which payments have not yet commenced, (a) the number of accumulation units credited to such contract and the dollar value of each unit, or (b) the value of the contract holder's account. General Authority: NDCC 26.1-33-17, 26.1-34-11
Law Implemented: NDCC 26.1-33, 26.1-34
N.D. Admin Code 45-04-02-07