Kansas Administrative Regulations

Agency 40. Insurance Department

Article 15. Variable Annuities or Separate Accounts

40-15-6 Same; required reports.

(a) Each company issuing an individual variable contract providing benefits in variable amounts shall mail to the contractholder at least once a year following the first contract year, at the last address known to the company, a statement or statements reporting the investments held in the separate account. In the case of contracts under which payments have not begun, the statement shall report as of a date not more than four months previous to the date of mailing.

(b)  In both instances, the report shall contain:

(1)  The number of accumulation units credited to the contracts and the dollar value of a unit; or

(2)  the value of the contractholder's account.

(c)  The company shall submit annually to the commissioner of insurance a statement of the business of its separate account or accounts in such form as may be prescribed by the national association of insurance commissioners.

(Authorized by K.S.A. 40-103, 40-436; implementing K.S.A. 40-436; effective Jan. 1, 1969; amended May 1, 1986; amended May 1, 1987.)