Separate Account definition

Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

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Separate Account includes reference to each Division to the extent the context requires) of the Separate Account for investment in Class B shares of corresponding Portfolios of the Fund that are made available through the Separate Account to act as underlying investment media,

Separate Account. We established the Separate Account under the laws of the state of California. The Separate Account is maintained under the laws of our state of domicile. Any income, gains or losses (whether or not realized) from the assets of each Variable Account are credited or charged against such Variable Account without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this Contract and other variable annuity contracts. Assets may be put in our Separate Account for other purposes, but not to support contracts other than variable annuity contracts. The assets of our Separate Account are our property. The portion of the Separate Account assets equal to the reserves and other Contract liabilities with respect to each Variable Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a separate account in excess of the reserves and other liabilities with respect to its Variable Accounts to another separate account or to our General Account. All obligations arising under the Contract are our general corporate obligations. We do not hold ourselves out to be trustees of the Separate Account assets. We reserve the right, subject to compliance with the law then in effect, and after any required regulatory approval, to: • cease offering any Subaccount; • add or change designated investment companies or their portfolios, or other investment vehicles; • add, delete or make substitutions for the securities and other assets that are held or purchased by the Separate Account or any Variable Account; • permit conversion or exchanges between portfolios and/or classes of contracts on the basis of Owners’ requests; • add, remove or combine Variable Accounts; • combine the assets of any Variable Account with any of our other Separate Accounts or of any of our affiliates; • register or deregister Separate Account A or any Variable Account under the 1940 Act; • operate any Variable Account as a managed investment company under the 1940 Act, or any other form permitted by law; • run any Variable Account under the direction of a committee, board, or other group; • restrict or eliminate any voting rights of Owners with respect to any Variable Account or other persons who have voting rights as to any Variable Account; • make any changes required by the 1940 Act or other federal securities laws; • make any changes necessary to maintain the status of the Contracts as annuities under th...

Examples of Separate Account in a sentence

• For this purpose, Fund hereby appoints Insurer as its agent for the limited purpose of receiving orders for the purchase and redemption of shares of each Portfolio for each Separate Account; provided that Fund receives both the notice of the order in accordance with paragraph 3 above and any related purchase payments in accordance with paragraph 4 above.

• Accordingly, Insurer, where applicable, shall vote shares of a Portfolio held in each Separate Account in a manner consistent with voting instructions timely received from its Contractholders or Participants.

• Insurer shall be responsible for assuring that the Separate Account calculates voting privileges in a manner consistent with other Participating Companies.

• Insurance Company further agrees to be responsible for assuring that voting the Shares of the Participating Fund for the Separate Account is conducted in a manner consistent with other Participating Companies.

• Using this unit value, Insurance Company will process the day’s Separate Account transactions received by it by the close of trading on the floor of the New York Stock Exchange (currently 4:00 p.m. Eastern time) to determine the net dollar amount of the Shares of each Participating Fund that will be purchased or redeemed at that day’s closing net asset value per Share.

More Definitions of Separate Account

Separate Account means a separate account duly established by Insurance Company that invests in a Portfolio and is named on Schedule 1.

Separate Account. A separate account that buys and holds shares of the Fund(s). Income, gains or losses, realized or unrealized, are credited or charged to the Separate Account without regard to other income, gains or losses of Aetna. Aetna owns the assets held in the Separate Account and is not a trustee as to such amounts. This Separate Account generally is not guaranteed and is held at market value. The assets of the Separate Account, to the extent of reserves and other contract liabilities of the Account, shall not be charged with other Aetna liabilities.

Separate Account means any of the Separate Accounts described or referred to in Sections 2.02 and 2.05 and the Data Pages of this Contract.

Separate Account means a separate account established pursuant to Iowa Code section 508A.1 or pursuant to the corresponding section of the insurance laws of the state of domicile of a foreign or alien insurer.

Separate Account. ’ means an account established and maintained by an insurance company pursuant to the laws of any State or territory of the United States, or of Canada or any province thereof, under which income, gains and losses, wheth- er or not realized, from assets allocated to such account, are, in accordance with the applicable contract, credited to or charged against such account without regard to other income, gains, or losses of the insurance company.

Separate Account means a separate account duly established by Insurance Company and set forth on Exhibit A, as such Exhibit may be revised from time to time.

Separate Account means _____________________ Company Variable Annuity Separate Account, a separate account established by Insurance Company in accordance with the laws of the State of __________.