Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 300 - VARIABLE LIFE INSURANCE RULE
Article VIII - Separate Accounts
Section 031-300-VIII-6 - Separate account investment policy

Universal Citation: 02 ME Code Rules ยง 031-300-VIII-6

Current through 2024-38, September 18, 2024

The investment policy of a separate account operated by a domestic insurer filed under Section 2 c of Article V shall not be changed without first filing such change with the Superintendent.

a. Any change filed pursuant to this section shall be effective sixty days after the date it was filed with the Bureau, unless the Superintendent notifies the insurer before the end of such sixty-day period of his disapproval of the proposed change. At any time the Superintendent may, after notice and public hearing, disapprove any change that has become effective pursuant to this section.

b. The Superintendent may disapprove the change if he or she determines that the change would be detrimental to the interests of the policyholders participating in such separate account.

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