ESTABLISHMENT AND ADMINISTRATION OF SEPARATE ACCOUNTS

Any domestic insurer issuing variable life insurance shall establish and administer one or more separate accounts pursuant to Minnesota Statutes, section 61A.14 : A. All persons with access to the cash, securities, or other assets of the separate account shall be under bond in an amount not less than $3,000,000. B. The assets of these separate accounts shall be valued at least as often as variable benefits are determined but in any event at least monthly.