Common use of Purchase Payment Clause in Contracts

Purchase Payment. You purchase this Contract with a single Purchase Payment. You may not make additional purchase payments. Unless otherwise permitted by applicable federal tax law, the single Purchase Payment must be made in the form of (1) a rollover contribution (as permitted by Code Sections 402(c), 402(e)(6), 403(a)(4), 403(b)(8), 403(b)(10), 408(d)(3), or 457(e)(16)), or (2) a nontaxable transfer from an individual retirement plan under Code Section 7701(a)(37).

Appears in 4 contracts

Samples: Empire Fidelity Investments Variable Annuity Account A, Fidelity Investments Variable Annuity Account I, Fidelity Investments Variable Annuity Account I

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.