31 Pa. Code § 82.47 - Separate account investment policy

(a) The investment policy of a separate account operated by a domestic insurer filed under § 82.13(3) (relating to filing for approval to do business in this Commonwealth) may not be changed without first filing the change with the Commissioner.

(b) A change filed under this section shall be effective 60 days after the date it was filed with the Commissioner, unless the Commissioner notifies the insurer before the end of the 60-day period of the disapproval of the proposed change. The Commissioner may, after notice and public hearing, disapprove a change that has become effective under this section.

(c) The Commissioner may disapprove the change if the Commissioner determines that the change would be detrimental to the interests of the policyholders participating in the separate account.

Notes

31 Pa. Code § 82.47

The provisions of this § 82.47 adopted August 4, 1978, effective 9/5/1978, 8 Pa.B. 2171; amended April 28, 1989, effective 4/29/1989, 19 Pa.B. 1835; corrected June 30, 1989, effective retroactive to April 29, 1989, 19 Pa.B. 2754.

This section cited in 31 Pa. Code § 82.41 (relating to applicability).