Section 2522.11 - A Statement Shall be Furnished Applicants for Investment Annuities(a) A statement containing the following information shall be furnished to an applicant upon request and prior to the execution of an application or group enrollment form. (1) A summary explanation in non-technical terms of the principal features of the policy and of the manner in which any benefits will vary based upon premiums payable from the segregated custodian account which will reflect the investment experience of the assets in the account.(2) A listing of the kinds of assets (investments) which are acceptable investments within a custodian account.(3) A specific and complete schedule of all premiums and a specific and complete current custodian fee schedule which clearly discloses the usual and customary charges imposed by the custodian, including the charges for each type of investment transaction. Such custodian fee schedule shall specify that the custodian shall not increase the custodian account charges more than once each twelve months. A disclosure of the amount of the premiums payable as commissions for the sale of the investment annuity. Such disclosures shall comply with the requirements of subsection (d) of Section 2522.7 of this Article.(4) A statement of the federal income tax liabilities applicable to the policy, and an explanation of the state premium tax.(5) A prominent statement with respect to the fact that the custodian cannot return any assets of the account to the policyholder, policyowner or annuitant.(6) Subject to the approval of the Commissioner, the insurer may include such other relevant information as the insurer deems appropriate.(b) The form or forms containing the above specified information required to be furnished to applicants shall be filed with the Commissioner prior to any use thereof and shall not be used until approved in writing by the Commissioner.Cal. Code Regs. Tit. 10, § 2522.11