Minnesota Administrative Rules

2750.3100 ESTABLISHMENT AND ADMINISTRATION OF SEPARATE ACCOUNTS.

Any domestic insurer issuing variable life insurance shall establish and administer one or more separate accounts pursuant to Minnesota Statutes, section 61A.14:

A.

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.

B.

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.

Statutory Authority:

MS s 61A.20

History:

8 SR 1948

Published Electronically:

September 14, 2007