§ 58-60-145. Report to contract owners.

132 words·~1 min read·/nc/chapter-58/58-60-145

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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 that contains at least all of the following information:

(1)The beginning and end dates of the current report period.

(2)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.

(3)The total amounts, if any, that have been credited, charged to the contract value, or paid during the current report period.

(4)The amount of outstanding loans, if any, as of the end of the current report period. (2005-234, s. 1.11.)