Current through 2024-52, December 25, 2024
Section 031-300-VIII-3 - Investments by the separate accounta. No sale, exchange, or other transfer of assets may be made by an insurer or any of its affiliates between any of its separate accounts or between any other investment account and one or more of its separate accounts unless; (1) in case of a transfer into a separate account, such transfer is made solely to establish the account or to support the operation of the contracts with respect to the separate account to which the transfer is made; and(2) such transfer, whether into or from a separate account, is made by a transfer of cash; however, other assets may be transferred if approved in advance by the Superintendent if such transfers would not be inequitable.b. The separate account shall have sufficient net investment income and readily marketable assets to meet anticipated withdrawals under policies funded by the account.02-031 C.M.R. ch. 300, § VIII-3