Mich. Admin. Code R. 500.846

Current through Vol. 24-19, November 1, 2024
Section R. 500.846 - Service contracts between insurer and supplier; requirements

Rule 6. Any contract between an insurer and suppliers of consulting, investment, administrative, sales, marketing, custodial, or other services which are material with respect to variable life insurance operations shall be in writing and provide that the supplier of such services shall furnish the commissioner with any information or reports in connection with such services which the commissioner may request in order to ascertain whether the variable life insurance operations of the insurer are being conducted in a manner consistent with these rules and any other applicable law or regulations; shall be fair and equitable to all policyholders of the insurer in this state; shall not relieve the insurer from any responsibilities or obligations imposed upon the operations of its variable life insurance business by this rule or any law or regulation.

Mich. Admin. Code R. 500.846

1979 AC