THE SEPARATE ACCOUNT Sample Clauses

THE SEPARATE ACCOUNT. The Separate Account is the separate account designated on the Policy Schedule Pages (page 7). It is registered with the Securities and Exchange Commission (“SEC”) as a unit investment trust under the Investment Company Act of 1940 (the “1940 Act”). Unless required by law, the investment policy of the Separate Account may not be changed without the Company’s consent and subject to any required regulatory approval. The Company is the legal owner of the assets held in the Separate Account, but the Separate Account is legally segregated, meaning that its assets are kept separate from assets held in the Company’s general account and other separate accounts that it may have. Assets will be allocated to the Separate Account to support the operation of this Policy (except when this Policy is in force under the Paid-up Option under Section 11) and other flexible and scheduled premium variable life insurance policies. Assets may also be allocated for other purposes, but not to support the operation of any contracts or policies other than variable life insurance. Xxxxxx and realized and unrealized gains and losses from assets in the Separate Account are credited to or charged against it without regard to other income, gains or losses of the Company. The portion of these assets that equals the reserves and other liabilities of the policies supported by the Separate Account will not be charged with liabilities arising out of any other business the Company may conduct. The Company reserves the right to transfer assets of the Separate Account in excess of these reserves and liabilities to its general account. The Company also reserves the right to transfer assets of the Separate Account that it determines to be associated with the class of policies to which this Policy belongs to another separate account. If this type of transfer is made, the term “Separate Account” as used in this Policy will mean the separate account to which the assets are transferred. When permitted by law and subject to any approvals that may be required by regulatory authorities, the Company reserves the right to: • operate the Separate Account or a Division as either a unit investment trust or a management company under the 1940 Act, or in any other form allowed by law, if deemed by the Company to be in the best interest of its policyowners; • register or deregister the Separate Account under the 1940 Act or change its classification under that Act; • create new separate accounts; • combine the S...
AutoNDA by SimpleDocs
THE SEPARATE ACCOUNT. The Guardian Separate Account R The Variable Investment Options under this contract are funded by The Guardian Separate Account R (Account R). Account R is a separate investment account established by GIAC under the laws of the state of Delaware. Account R is registered as a unit investment trust with the Securities and Exchange Commission (SEC) under the Investment Company Act of 1940 (the 1940 Act). Account R is treated as a division of GIAC and is used to provide values and benefits for variable annuity contracts only. GIAC owns the assets in Account R. The assets in Account R are kept separate from GIAC’s general account and GIAC’s other separate accounts. Assets equal to the reserves and contract liabilities of Account R will not be charged with liabilities that arise from any other business we may conduct. We may transfer assets in excess of the reserves and contract liabilities of Account R to the general account. Xxxxxx and realized and unrealized gains and losses from assets in each Variable Investment Option in Account R are credited to or charged against such Variable Investment Option without regard to income and realized and unrealized gains or losses in Account R’s other Variable Investment Options or our general account or other separate accounts. The valuation of all assets in Account R will be determined in accordance with all applicable laws and regulations. Investment Divisions Account R consists of several investment divisions or Variable Investment Options. Not all investment divisions may be offered as Variable Investment Options under your contract. Each investment division of Account R invests in shares of a registered investment company or separate series thereof or any other investment in which a Variable Investment Option is permitted to invest under applicable law. The investment divisions available under the contract are listed in the then current prospectus for this contract and Account R.
THE SEPARATE ACCOUNT. The Separate Account is registered and operated as a Unit Investment Trust under the Investment Company Act of 1940. As such, the assets of each Sub-Account are invested in a registered management investment company (mutual fund). The Separate Account will be legally separated from UNUM's other accounts. The Separate Account's assets will, at the time during the year that adjustments in the reserves are made, have a value of at least equal to the reserves and other contract liabilities with respect to the Separate Account, and at all other times, will have a value approximately equal to, or in excess of, such reserves and liabilities. The portion of the assets having a value equal to, or approximately equal to, the reserves and contract liabilities will not be chargeable with liabilities arising out of any other business which UNUM may conduct. UNUM reserves the right, subject to compliance with applicable law, including approval by You or the Participants if required by law, (1) to create additional Sub-Accounts, (2) to combine or eliminate Sub-Accounts, (3) to transfer assets from one Sub-Account to another, (4) to transfer assets to the General Account and other separate accounts, (5) to cause the deregistration and subsequent re-registration of the Separate Account under the Investment Company Act of 1940, (6) to operate the Separate Account under a committee and to discharge such committee at any time, and (7) to eliminate any voting rights which You or Participants may have with respect to the Separate Account, (8) to amend the Contract to meet the requirements of the Investment Company Act of 1940 or other federal securities laws and regulations, (9) to operate the Separate Account in any form permitted by law, (10) to substitute shares of another fund for the shares held by a Sub-Account, and (11) to make any change required by the Internal Revenue Code, the Employee Retirement Income Security Act of 1974, or the Securities Act of 1933, to the extent not provided in Section 12.2.
THE SEPARATE ACCOUNT. The Separate Account is identified in the Contract Schedule. It is a separate investment account of ML Life Insurance Company of New York. With respect to the Separate Account, income, gains, and losses, whether or not realized, from assets allocated to the Separate Account are credited to or charged against the Separate Account without regard to other income, gains, or losses of the Company. Assets allocated to the Separate Account remain our property but are separate from our general account and any other separate accounts we may have. Separate Account assets, to the extent equal to the Separate Account's reserves and other liabilities, may not be charged with liabilities from any other business we conduct. We reserve the right to transfer any excess to our general account.
THE SEPARATE ACCOUNT. The Separate Account is designated on the Contract Schedule and consists of assets set aside by the Company, which are kept separate from that of the general assets and all other separate account assets of the Company. The assets of the Separate Account equal to reserves and other liabilities will not be charged with liabilities arising out of any other business the Company may conduct. The Separate Account assets are divided into Sub-Accounts. The Sub-Accounts which are available under this Contract are listed in the Contract Schedule. The assets of the Sub-Accounts are allocated to the Eligible Investment(s) and the Series, if any, within an Eligible Investment shown on the Contract Schedule. The Company may, from time to time, add additional Eligible Investments or Series to those shown on the Contract Schedule. The Contract Owner may be permitted to transfer Contract Values or allocate Net Purchase Payments to the additional Eligible Investments or Series. However, the right to make such transfers or allocations will be limited by the terms and conditions imposed by the Company. Should the shares of any such Eligible Investment(s) or any Series within an Eligible Investment become unavailable for investment by the Separate Account, or the Company deems further investment in these shares inappropriate, the Company may limit further purchase of such shares or may substitute shares of another Eligible Investment or Series for shares already purchased under this Contract.
THE SEPARATE ACCOUNT. The Separate Account and the investment divisions. Allocation of net premiums, dividends and deductions. Transfer of assets.
THE SEPARATE ACCOUNT. Nature of the Separate Account The Separate Account is registered with the SEC under the Investment Company Act of 1940 as a Unit Investment Trust type of investment company. It is also subject to the laws of Missouri. We established the Separate Account to support variable annuity contracts. We own the assets of the Separate Account and keep them separate from the assets of our general investment account. We use the assets of the Separate Account to buy shares in the Fund(s). The Separate Account has Subaccounts which are invested in corresponding specific portfolios of the Fund(s). Income and realized and unrealized gains and losses from assets in each Subaccount are credited to, or charged against, the Subaccount without regard to income, gains or losses in our other investment accounts. We will determine the value of the assets in the Separate Account at the end of each Business Day. In order to determine the value of an asset on a day that is not a Business Day, we will use the value of that asset as of the end of the next Business Day on which trading takes place. We will always keep assets in the Separate Account with a value at least equal to the total investment amount under contracts similar to this one. To the extent those assets do not exceed this total, we use them to support only those contracts and do not use those assets to support any other business. We may use any excess over this amount in any way we choose. Subaccounts The Separate Account has several Subaccounts. Each Subaccount invests in a corresponding portfolio of the Fund(s). The portfolios available on the Contract Date are listed on the Contract Schedule Page. Allocations to the Subaccounts You determine, using whole percentages, what portion of the initial Net Purchase Payment will be allocated among the Subaccounts at the end of the Free Look Period. The Contract Schedule Page will show your initial allocation percentages. You may choose to allocate nothing to a particular Subaccount. The minimum balance for each Subaccount must be at least $1,000. You may change the allocation percentages for additional Net Purchase Payments at anytime. The change will take effect on the date we receive notice from you by phone or in writing.
THE SEPARATE ACCOUNT. 9 4. Charges, Deductions and Credits ....................................... 11 5. Transfers ............................................................. 12 6. Withdrawals ........................................................... 13 7.
THE SEPARATE ACCOUNT. The Guardian Separate Account F The Variable Investment Options under this contract are funded by The Guardian Separate Account F (Account F). Account F is a separate investment account established by GIAC under the laws of the state of Delaware. Account F is subject to the laws of the jurisdiction in which this contract is issued. Account F is registered as a unit investment trust with the Securities and Exchange Commission (SEC) under the Investment Company Act of 1940 (the 1940 Act). Account F is treated as a division of GIAC and is used to provide values and benefits for variable annuity contracts only. GIAC owns the assets in Account F. The assets in Account F are kept separate from: • GIAC’s general account; and • GIAC’s other separate accounts. Assets equal to the reserves and contract liabilities of Account F will not be charged with liabilities that arise from any other business GIAC may conduct. GIAC may transfer assets in excess of the reserves and contract liabilities of Account F to the general account. Xxxxxx and realized and unrealized gains and losses from assets in each Variable Investment Option in Account F are credited to or charged against such Variable Investment Option without regard to income and realized and unrealized gains or losses in Account F’s other Variable Investment Options or GIAC’s general account or other separate accounts. The valuation of all assets in Account F will be determined in accordance with all applicable laws and regulations. Investment Divisions Account F consists of several investment divisions or Variable Investment Options. Each investment division of Account F invests in shares of a registered investment company. Such company may include a mutual fund or a separate investment portfolio of a mutual fund, each of which is managed by an investment adviser registered under the Investment Advisers Act of 1940. The investment divisions available on the Issue Date are listed in the then current prospectus for Account F as it relates to this contract. Each underlying investment company is more fully described in a separate prospectus. Any investment adviser’s fee, if applicable, is described in the appropriate prospectus. Rights Reserved GIAC reserves the right to take certain actions that it deems: • necessary to serve the best interests of the owner and any beneficiary; and • appropriate to carry out the purposes of this contract. GIAC will exercise its reserved rights only when permitted by applicable law. W...
THE SEPARATE ACCOUNT. The Separate Account supports the operation of this Policy and certain other variable life insurance policies we may offer. We will not allocate assets to the Separate Account to support the operation of any contracts or policies that are not variable life insurance. We own the assets in the Separate Account. These assets are held separately from our other assets. They are not part of our General Account. The Separate Account is registered with the Securities and Exchange Commission as a unit investment trust under the Investment Company Act of 1940. The Separate Account is also subject to laws of the state of New York which regulate the operations of insurance companies incorporated in New York. The investment policy of the Separate Account will not be changed without the approval of the New York Insurance Commissioner. The approval process is on file with the New York Insurance Commissioner.