Cal. Code Regs. tit. 10 § 2522.2
The purpose of this Article is to establish qualification procedures for the transaction of an investment annuity business in this State, policy form approval and advertising guidelines applicable to the issuance of investment annuity policies, and requirements for the establishment of segregated custodian accounts. This Department's review of and experience with investment annuities indicates that this Article is necessary due to the complexity of the product, the potential for abuses in marketing, and the possible effect upon the financial condition of the insurer. This Article establishes specific standards and guidelines for the transaction of an investment annuity business under the general authority of the Unfair Practices provisions of the Insurance Code in Sections 790 through 790.10.
Cal. Code Regs. Tit. 10, § 2522.2