§ 85.27. Statements to policyholders.
(a) Any company issuing individual variable annuity contracts or individual variable accumulation annuity contracts shall mail to the contract holder, at least once in each contract year after the first year at his last known address, a statement or statements reporting the investments held in the separate account and, in the case of contracts under which payments have not yet commenced, a statement reporting as of a date not more than three months previous to the date of mailing one of the following:
(1) The number of accumulation units credited to such contracts and the dollar value of a unit.
(2) The value of the account of the contract holder.
(b) The reporting date, once fixed, shall remain constant each year, unless the Department approves the use of a different reporting date or dates. The additional statement or statements shall also be made available to any contract holder at his request, and shall be furnished within a reasonable time from this request.
(c) The company may make a reasonable charge to the contract holder for any additional statement or statements, and may make reasonable limitations upon the number or frequency of these requests by the same contract holder.
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