Maine § 24-A §1159 Special investments; separate accounts

Maine Statutes

§ 24-A §1159 — Special investments; separate accounts

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 13-A INVESTMENTS OF LIFE INSURERS AND LIFE AND HEALTH INSURERS

1.Special investments. Except as may be provided with respect to reserves for guaranteed benefits and funds referred to in subsection 2:

2.Separate accounts. Except with the approval of the superintendent and under such conditions as to investments and other matters as the superintendent may prescribe, which must recognize the guaranteed nature of the benefits provided, an insurer may not guarantee the value of the assets allocated to a separate account, or any interest in that account, or the investment results of that account, or the income from that account, to a contract holder, without limitation of liability under all those guarantees to the extent of the interest of the contract holder in assets allocated to that separate account, unless:

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1.
Special investments.
Except as may be provided with respect to reserves for guaranteed benefits and funds referred to in subsection 2:
2.
Separate accounts.
Except with the approval of the superintendent and under such conditions as to investments and other matters as the superintendent may prescribe, which must recognize the guaranteed nature of the benefits provided, an insurer may not guarantee the value of the assets allocated to a separate account, or any interest in that account, or the investment results of that account, or the income from that account, to a contract holder, without limitation of liability under all those guarantees to the extent of the interest of the contract holder in assets allocated to that separate account, unless:

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