N.J. Admin. Code § 11:4-44.2 - Definitions

Current through Register Vol. 54, No. 7, April 4, 2022

The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise.

"Commissioner" means the Commissioner of the New Jersey Department of Banking and Insurance.

"Contract on a variable basis" or "variable contract" means any separate account contract providing for the dollar amount of life insurance or annuity benefits or other contractual payments or values thereunder to vary so as to reflect investment results of one or more separate accounts in which amounts with respect to any such contracts have been placed. Market value adjusted annuities are included within this definition, and are not fixed annuities.

"Department" means the New Jersey Department of Banking and Insurance.

"Separate account" means any segregated portfolio of investments or designated account of an insurer established pursuant to 17B:28-1 et seq.

Notes

N.J. Admin. Code § 11:4-44.2
Amended by R.2000 d.130, effective 3/20/2000.
See: 31 New Jersey Register 3910(a), 32 New Jersey Register 1024(a).
Amended by R.2003 d.54, effective 2/3/2003.
See: 34 New Jersey Register 3194(a), 35 New Jersey Register 618(a).
Deleted "Market value adjusted annuity".

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