Section 817(h). Each Fund of the Trust shall comply with Section 817(h) of the Code and Treasury Regulation 1.817-5 thereunder, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts, to the extent applicable to the Fund as an investment company underlying the Account, and the Trust shall notify the Company immediately upon having a reasonable basis for believing that a Fund has ceased to so comply and will not be able to comply within the grace period afforded by Treasury Regulation 1.817-5.
Appears in 2 contracts
Sources: Participation Agreement (Variable Separate Account), Participation Agreement (Fs Variable Separate Account)