33-20-906. Report to contract owners.
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/mt/title-33/chapter-20/part-9/33-20-906·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
33-20-906 . Report to contract owners.
(1)For annuities in the payout period with changes in nonguaranteed elements and for the accumulation period of a deferred annuity, the insurer shall provide each contract owner with a report, at least annually, on the status of the contract.
(2)The report must contain at least the following information:
(a)the beginning and ending date of the current report period;
(b)the accumulation and cash surrender value, if any, at the end of the previous report period and at the end of the current report period;
(c)the total amounts, if any, that have been credited, charged to the contract value, or paid during the current report period; and
(d)the amount of outstanding loans, if any, as of the end of the current report period.