N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 50-1.2

Current through Register Vol. 46, No. 51, December 18, 2024

Section 50-1.2 - Qualification of insurance companies to issue separate account annuity contracts

(a) Before any authorized insurance company can qualify to deliver or issue for delivery any separate account annuity contract within this State, it shall, in addition to complying with the applicable provisions of the Insurance Law and the other provisions of this Subpart, submit the following information to the superintendent:

(1) a description of the kinds and characteristics of separate account annuity contracts it intends to deliver or issue for delivery;

(2) a description of the proposed method of operating the separate account or accounts established or to be established with respect to such separate account annuity contracts;

(3) if requested by the superintendent, biographical data with respect to the officers and directors of the company and the members of the committee, board or other similar body of the separate account;

(4) With respect to an authorized foreign insurer, if requested by the superintendent, a copy of the statutes and regulations of its State of domicile under which it is authorized to issue such separate account annuity contracts; and

(5) such further information as the superintendent may require.

N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 50-1.2

Adopted New York State Register August 31, 2022/Volume XLIV, Issue 35, eff. 8/31/2022