Rules and Regulations
promulgated
under the
Investment Company Act of 1940
Rule 27c-1 -- Exemption from Section 27(c)(1) and Section 27(d) of the Act During Annuity Payment Period of Variable Annuity Contracts Participating in Certain Registered Separate Accounts
A registered separate account, and any depositor of
or underwriter for such account, shall, during the annuity payment period of variable
annuity contracts participating in such account, be exempt from the requirement of
paragraph (1) of section 27(c) of the Act
that a periodic payment plan certificate be a redeemable security and from section
27(d) of the Act with respect to such contracts under which payments are being
made based upon life contingencies.
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