Common use of Control Provisions Clause in Contracts

Control Provisions. ANNUITANT, CONTINGENT ANNUITANT AND CERTIFICATE OWNER(S) The Annuitant may not be changed. The designations of Certificate Owner and Contingent Annuitant will remain in effect until changed by the Certificate Owner. Changes in the designation of the Certificate Owner may be made during the lifetime of the Annuitant by written notice to us. Changes in the designation of Contingent Annuitant may be made at any time prior to the Annuity Commencement Date by written notice to the Company. Notwithstanding the foregoing, if no Contingent Annuitant has been named and the Certificate Owner/Annuitant's spouse is the Beneficiary, it will be assumed that the Certificate Owner/Annuitant's spouse is the Contingent Annuitant. A Certificate Owner who is a non-natural person may not designate a Contingent Annuitant. The Certificate Owner has the sole power to exercise all the rights, options and privileges granted by this Certificate or permitted by the Company and to agree with the Company to any change in or amendment to the Certificate. The rights of the Certificate Owner shall be subject to the rights of any assignee of record with the Company and of any irrevocably designated Beneficiary. In the case of joint Certificate Owners, each Certificate Owner alone may exercise all rights, options and privileges, except with respect to the Surrender Provisions and change of ownership or beneficiary. If the Certificate Owner dies on or after the Annuity Commencement Date, then the Joint Certificate Owner, or if none, the Annuitant, becomes the Certificate Owner.

Control Provisions. ANNUITANT, CONTINGENT ANNUITANT AND CERTIFICATE OWNER(S) The Annuitant may not be changed. The designations of Certificate Owner and Contingent Annuitant will remain in effect until changed by the Certificate Owner. Changes in the designation of the Certificate Owner may be made during the lifetime of the Annuitant by written notice to usthe Company. Changes in the designation of Contingent Annuitant may be made at any time prior to the Annuity Commencement Date by written notice to the Company. Notwithstanding the foregoing, if no Contingent Annuitant has been named and the Certificate Owner/Annuitant's spouse is the Beneficiary, it will be assumed that the Certificate Owner/Annuitant's spouse is the Contingent Annuitant. A Certificate Owner who is a non-natural person may not designate a Contingent Annuitant. The Certificate Owner has the sole power to exercise all the rights, options and privileges granted by this the Certificate or permitted by the Company and to agree with the Company to any change in or amendment to the Certificate. The rights of the Certificate Owner shall be subject to the rights of any assignee of record with the Company and of any irrevocably designated Beneficiary. In the case of joint Certificate Owners, each Certificate Owner alone may exercise all rights, options and privileges, except with respect to the Surrender Provisions and change of ownership or beneficiaryBeneficiary. If the Certificate Owner dies on or after the Annuity Commencement Date, then the Joint Certificate Owner, or if none, the Annuitant, becomes the Certificate Owner.