N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 50-2.4

Current through Register Vol. 46, No. 53, December 31, 2024

Section 50-2.4 - Qualification of insurers to issue separate account contracts

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

(1) a description of the kinds and characteristics of separate account contracts the insurer 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 contracts;

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

(4) with respect to an authorized foreign insurer, if requested by the superintendent, a copy of the laws and regulations of its domiciliary state under which the insurer is authorized to issue such separate account contracts; and

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

N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 50-2.4

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