Section 26-A2706. REQUIREMENTS APPLICABLE TO CONTRACTUAL SERVICES

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2706.1A contract between an insurer and suppliers of consulting, investment, administrative, sales, marketing, custodial or other services with respect to variable life insurance operations shall be in writing and provide that the supplier of such services shall furnish the Commissioner with any information or reports in connection with such services which the Commissioner may request in order to ascertain whether the variable life insurance operations of the insurer are being conducted in a manner consistent with these regulations, and any other applicable law or regulations.

2706.2The contract shall be fair and equitable to all parties and not endanger policyholders of the insurer in the District.

2706.3The contract may not relieve the insurer from any responsibilities or obligations imposed upon the operations of its variable life insurance business by this chapter or any other law or regulation.

source

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

                    
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