11 N.C. Admin. Code 12.0420

Current through Register Vol. 39, No. 12, December 1, 2024

Section 12 .0420 - APPROVAL OF CONTRACTS: ADDITIONAL INFORMATION REQUIRED

A company submitting variable annuity contracts to the Department for approval shall furnish the following information with each variable annuity contract filing:

(1) Evidence that a copy of all appropriate information has been registered with the Securities and Exchange Commission,

(2) A copy of all sales promotion material to be used in North Carolina,

(3) A copy of the variable annuity application form,

(4) A copy of the "Suitability Questionnaire" form, and

(5) A copy of all proposed riders to be used with the variable annuity contract.

The "Suitability Questionnaire" form required by this Rule may be a separate form or a part of the policy application and shall contain questions designed to determine whether the proposed variable annuity contract meets the reasonable objectives and needs of the applicant.

11 N.C. Admin. Code 12 .0420

Authority G.S. 58-2-40; 58-7-95;
Eff. February 1, 1976;
Readopted Eff. September 26, 1978;
Amended Eff. February 1, 1992; April 1, 1989;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. May 1, 2018.

Authority G.S. 58-2-40; 58-7-95;
Eff. February 1, 1976;
Readopted Eff. September 26, 1978;
Amended Eff. February 1, 1992; April 1, 1989.