§ 408:25 — Managing Business of Separate Account

To the extent the insurance company deems it necessary to comply with any applicable federal or state laws, the insurance company, with respect to a separate account, including, without limitation, any separate account that is a management investment company or a unit investment trust, may provide for persons, having an interest therein appropriate, voting and other rights and special procedures for the conduct of the business of the account, including, without limitation, special rights and procedures relating to investment policy, investment advisory services, selection of independent public accountants, and the selection of a committee, the members of which need not be otherwise affiliated with the company, to manage the business of the account.

Legislative History

2022, 144:1, eff. Jan. 1, 2023.