Any domestic insurer issuing variable life insurance shall establish and administer one or more separate accounts pursuant to Minnesota Statutes, section 61A.14:
All persons with access to the cash, securities, or other assets of the separate account shall be under bond in an amount not less than $3,000,000.
The assets of these separate accounts shall be valued at least as often as variable benefits are determined but in any event at least monthly.
MS s 61A.20
8 SR 1948
September 14, 2007
Official Publication of the State of Minnesota
Revisor of Statutes