Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 310 - VARIABLE ANNUITY RULE
Article VI - Variable Annuity Contract Requirements
Section 031-310-VI-1 - Filing of variable annuity contracts

Universal Citation: 02 ME Code Rules ยง 031-310-VI-1

Current through 2024-38, September 18, 2024

All variable annuity contracts and all rider, endorsements, applications and other documents which are to be attached to and made a part of the contract and which relate to the variable nature of the contract, shall be filed with the Superintendent and approved by him prior to delivery or issuance for delivery in this state.

a. The procedures and requirements for such filing and approval shall be, to the extent appropriate and not inconsistent with this regulation, the same as those otherwise applicable to other annuity contracts.

b. Filings shall include a demonstration that the nonforfeiture provisions of the contract(s) comply with Section 3 of this Article.

c. The Superintendent may approve variable annuity contracts and related forms with provisions not less favorable to the contractholder and the beneficiary than those required by this rule.

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