Mich. Admin. Code R. 500.847 - Reports to the commissioner
Rule 7.
(1) Any
insurer authorized to transact the business of variable life insurance in this
state shall submit to the commissioner, in addition to any other materials
which may be required by this rule or any other applicable laws or regulations,
all of the following:
(a) An annual statement
of the business of its variable life insurance separate account or accounts in
such form as shall be prescribed by the commissioner.
(b) Prior to the use in this state, a copy of
any information furnished to applicants as provided for in
R 500.863.
(c) Prior to the use in this state, a copy of
any of the forms required by subdivision (a) of
R
500.865 and a copy of any of the reports to
policyholders as used to satisfy subdivision (b) of
R
500.865.
(d) Such additional information concerning
its variable life insurance operations or its variable life insurance separate
accounts as the commissioner shall deem necessary.
(2) Any material submitted to the
commissioner under this rule shall be disapproved if it is found to be false,
misleading, incomplete, deceptive, or inaccurate in any material respect and,
if previously distributed, the commissioner shall require the distribution of
an amended report, which shall previously have been approved after submission
pursuant to this subrule.
(3) Any
material required to be filed with the commissioner, or approved by him, shall
be subject to disapproval if at any time it is found by him not to comply with
the standards established by this rule.
Notes
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