Definitions

Definitions A. The term “contract on a variable basis” or “variable contract” when used in this Regulation, shall mean any policy or contract which provides for insurance orannuity benefits which may vary according to the investment experience of any separate account or accounts maintained by the insurer as to such policy or contract, as provided for in Senate Bill 2407. B. “Agent”, when used in this Regulation, shall mean any person, who under the laws of this state is licensed as a life insurance agent. C. “Variable contract agent”, when used in this Regulation, shall mean an agent who shall sell or offer to sell any contract on a variable basis.