Section 26-A2700. AUTHORITY

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2700.1The following rules applicable to variable life insurance policies are promulgated under the authority of Section 41, ch. III of the Life Insurance Act, as amended, D.C. Code Section 35-639 (1993 & 1994 Supp.).

2700.2The issuance or delivery of life insurance policies on a variable basis in the District of Columbia (hereinafter the District) that is not in compliance with these rules shall be deemed in violation of the Life Insurance Act, the regulations issued pursuant thereto, and further, shall be deemed to constitute the transaction of insurance business which is hazardous to the policy holders and the public and contrary to the public interest.

source

Final Rulemaking published at 42 DCR 1047(February 24, 1995).

                    
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