210 Neb. Admin. Code, ch. 80, § 002 - Purpose

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.

Notes

210 Neb. Admin. Code, ch. 80, § 002