Variable Separate Account s (VSA). (a) The Company shall establish and maintain in its books and records one or more Variable Separate Accounts into which shall be allocated all Variable Separate Account Assets and Variable Separate Account Liabilities. The Company shall own and control all Variable Separate Account Assets in a VSA and all reserves related thereto shall remain in a VSA. Investment income, capital gains and losses earned or accrued on the assets held in a VSA shall be credited to the VSA.
Appears in 14 contracts
Samples: Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co), Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co), Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co)
