83-7-37 - Powers of domestic companies establishing separate accounts.
§ 83-7-37. Powers of domestic companies establishing separate accounts.
To the extent any domestic life company deems it necessary to comply with any applicable federal or state law, such company, with respect to any separate account, including without limitation any separate account which is a management investment company or a unit investment trust, may provide for persons having an interest therein appropriate voting and other rights and special procedures for the conduct of the business of such account, including without limitation special rights and procedures relating to investment policy, investment advisory services, selection of independent public accountants, and the selection of a committee, the members of which need not be otherwise affiliated with such company, to manage the business of such account.
Sources: Codes, 1942, § 5649-36; Laws, 1968, ch. 475, § 6, 1978, ch. 457, § 6, eff from and after July 1, 1978.