Section 1451.30  Qualification of Insurance Companies to Issue Variable Contracts

a)         Before any company shall deliver or issue for delivery variable contracts within this State it shall submit to the Director:

1)         A general description of the kinds of variable contracts it intends to issue in this State,

2)         If requested by the Director, a copy of the statutes and regulations of its state of domicile under which it is authorized to issue variable contracts, and

3)         If requested by the Director, biographical data with respect to officers and directors of the company on the forms prescribed in Management Information Reports (50 Ill. Adm. Code 915).

b)         The Director may require additional information to be filed prior to authorizing a company to transact a variable contract business.

c)         The Director shall notify the company, in writing, that it is authorized to transact a variable contract business in this State.

(Source:  Amended at 25 Ill. Reg. 4208, effective March 5, 2001)