Follow-up Method of Operations Where significant changes occur in the Method of Operations both while an application is pending and after qualification is issued, the company shall notify the Department of such changes. The Market value of assets in the separate account. This usually is the market value of assets in the separate account or the value of the guaranteed contractholder liability before any deduction for surrender charges. The basis for making this judgment must be included in the Method of Operations filed for the product. The value of assets in the separate account cannot be less than the amount available for lump sum withdrawal by the contractholder.
Any deficiency is to be made up by the general account.
Gross unearned risk premium. This can be released back to surplus on the maturity date. The maximum reserve for contracts without a maturity date shall be equal to five times the latest annual increment. The following specifies the annual statement reporting for products covered by this Bulletin. This reporting is consistent with current practices used for market value separate accounts.