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Old 02-13-2018, 06:15 PM
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kazh kazh is offline
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Cool Careful Company Compliance

Quote:
Originally Posted by wat? View Post
Doesn't it, though? Now that the model regulations are specified in Appendix VM-A? Unless, like MetsFan noted, there is explicit deviation from the model regulation within a state because they intended it that way.

Another example is Regulation XXX (Valuation of Life Insurance Policies) - some states have not adopted the 2009 version of the model reg, while others have not adopted it at all.
Some states take the position that a model applies even though it hasn't been officially adopted. It's wise to be careful not to assume that a model reg isn't applicable (e.g., the UL Model), if only because it might be the best interpretation of the underlying statute. Companies have to exercise caution when compliance is encouraged by a regulator.
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