Section 2523.2 - Initial Method(a) The initial method shall be filed with the commissioner in accordance with California filing and approval requirements.(b) Changes to the initial method are allowed once per calendar year. Any changes to the initial method shall be filed with the commissioner in accordance with California filing and approval requirements. A change in initial method would be applicable only to new contracts (or new certificates) issued subsequent to the effective date of the change in method.(c) The initial method is not required to be disclosed in the contract form.(d) The initial nonforfeiture rate is not required to be disclosed in the contract form, unless redetermination is used.(e) The minimum nonforfeiture parameters (e.g., load, interest rate, expenses) need not be disclosed in the contract unless they are utilized in the calculation of the guaranteed minimum value of the contract as required under Subsection 10168.1(c) of the Insurance Code.Cal. Code Regs. Tit. 10, § 2523.2
1. New section filed 12-19-2012; operative 12-19-2012 pursuant to Government Code section 11343.4 (Register 2012, No. 51). Note: Authority cited: Sections 10168.25(f) and 10168.92, Insurance Code. Reference: Section 10168.25, Insurance Code.
1. New section filed 12-19-2012; operative 12-19-2012 pursuant to Government Code section 11343.4 (Register 2012, No. 51).