Nebraska Administrative Code
Topic - INSURANCE, DEPARTMENT OF
Title 210 - NEBRASKA DEPARTMENT OF INSURANCE
Chapter 80 - SYNTHETIC GUARANTEED INVESTMENT CONTRACTS
Section 210-80-002 - Purpose
Universal Citation: 210 NE Admin Rules and Regs ch 80 ยง 002
Current through September 17, 2024
002.01 The purpose of this regulation is to implement Neb. Rev. Stat. § 44-708.01 by prescribing:
002.01A The terms and
conditions under which life insurance companies may issue group annuity
contracts and other agreements that in whole or in part establish the insurer's
obligation by reference to a segregated portfolio of assets that is not owned
by the insurer;
002.01B The
essential operational features of the segregated portfolio of assets;
002.01C The reserve requirements for these
group annuity contracts and agreements.
002.02 This regulation is intended to aid in the timely approval of such products by the Director, and recognizes that timely approval is essential given the competitive nature of the market for these products.
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