Current through Register Vol. 48, No. 51, June 17, 2024
Part 2750.3100 - ESTABLISHMENT AND ADMINISTRATION OF SEPARATE ACCOUNTS Any domestic insurer issuing variable life insurance shall establish and administer one or more separate accounts pursuant to Minnesota Statutes, section 61A.14:
A. All persons with access to the cash, securities, or other assets of the separate account shall be under bond in an amount not less than $3,000,000.B. The assets of these separate accounts shall be valued at least as often as variable benefits are determined but in any event at least monthly.Statutory Authority: MS s 61A.20