§ 82.47. Separate account investment policy.
(a) The investment policy of a separate account operated by a domestic insurer filed under § 82.13(3) (relating to filing for approval to do business in this Commonwealth) may not be changed without first filing the change with the Commissioner.
(b) A change filed under this section shall be effective 60 days after the date it was filed with the Commissioner, unless the Commissioner notifies the insurer before the end of the 60-day period of the disapproval of the proposed change. The Commissioner may, after notice and public hearing, disapprove a change that has become effective under this section.
(c) The Commissioner may disapprove the change if the Commissioner determines that the change would be detrimental to the interests of the policyholders participating in the separate account.
Source The provisions of this § 82.47 adopted August 4, 1978, effective September 5, 1978, 8 Pa.B. 2171; amended April 28, 1989, effective April 29, 1989, 19 Pa.B. 1835; corrected June 30, 1989, effective retroactive to April 29, 1989, 19 Pa.B. 2754. Immediately preceding text appears at serial pages (137051) to (137052).
Cross References This section cited in 31 Pa. Code § 82.41 (relating to applicability).
No part of the information on this site may be reproduced for profit or sold for profit.
This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.
