20-2637. Reports

A. At least once in each contract year after the first contract year, a company that issues individual variable annuities shall send to the contract holder at the contract holder's last known address a statement reporting the investments that are held in the separate account as of a date not more than four months before the sent date. The company shall submit annually to the director on a form prescribed by the national association of insurance commissioners a statement of the business of its separate account or accounts.

B. If payments under an annuity contract have not yet commenced the statement shall contain either:

1. The number of accumulation units that are credited to the contract and the dollar value of a unit.

2. The value of the contract holder's account.