Section 26-A2721. INVESTMENTS BY THE SEPARATE ACCOUNT

 

2721.1A sale, exchange, or other transfer of assets may not be made by an insurer or any of its affiliates between any of its separate accounts or between any other investment account and one or more of its separate accounts unless:

 

(a)In case of transfer into a separate account, such transfer is made solely to establish the account or to support the operation of the policies with respect to the separate account to which the transfer is made; and

 

(b)Such transfer, whether into or from a separate account, is made by a transfer of cash; but other assets may be transferred if approved by the Commissioner in advance.

 

2721.2Assets allocated to variable life insurance separate account shall have sufficient net investment income and readily marketable assets to meet anticipated withdrawals under policies funded by the account.

 

source

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