Annuity Contracts. Any annuity contract distributed under this Plan must be nontransferable. The terms of any annuity contract purchased and distributed by the Plan to a Participant or Spouse shall comply with the requirements of this Plan.
Annuity Contracts. If annuity payments commence to a Participant before the latest commencement date under Section 8.5, life expectancies of the Participant and Beneficiary shall be determined as of their birthdays in the calendar year in which payments commence.
Annuity Contracts. Deferred Variable Annuity and Variable Annuity Certain contract which may be issued by Golden American and for which Distributor has been appointed principal under writer pursuant to a Distribution Agreement, a copy of which has been furnished to Broker/Dealer.
Annuity Contracts. Any annuity contract distributed under the Plan (if permitted or required by this Section 6) must be nontransferable. The terms of any annuity contract purchased and distributed by the Plan to a Participant or spouse shall comply with the requirements of the Plan.
Annuity Contracts. 33 6.08 Loans to Participants................................................................ 33 6.09 Distribution in Kind................................................................. 34 6.10 Direct Rollovers of Eligible Rollover Distributions.................................. 34 6.11 Procedure for Missing Participants or Beneficiaries................................
Annuity Contracts. If a Participant’s Account is used to purchase an annuity contract from an insurance company in order to provide the Beneficiary’s benefit hereunder, notwithstanding the foregoing, the minimum distribution requirements will be satisfied if the annuity provides for periodic payments at intervals not longer than one year, commencing on or before the date a minimum distribution would otherwise be required over a period not exceeding the maximum period described in (c)(2)(B) above remaining (without recalculation of life expectancies after the annuity purchase). Any such annuity contract must satisfy the requirements of the applicable Treasury Regulations under section 401(a)(9) of the Code.
Annuity Contracts. If the Participant's Benefit is distributed in the form of an annuity purchased from an insurance company, distributions under such annuity shall be made in accordance with the requirements of Code section 401(a)(9).
Annuity Contracts. The forms of all policies and endorsements utilized for all Annuity Contracts in effect on the date of this Agreement are listed and described on Schedule 3.8(a) attached hereto. All Annuity Contracts in effect on October 21, 1996 are listed and described on Schedule 3.8(b) attached hereto. All Annuity Contracts in effect on the Closing Ledger Date will be set forth in an updated Schedule 3.8(b) delivered to Purchaser at the Closing. Schedule 3.8(b) includes with respect to each Annuity Contract in effect on October 21, 1996 and will include with respect to each Annuity Contract in effect on the Closing Ledger Date, the policy number, policyholder name, form, plan code and account balance. Schedule 3.8(b) attached hereto also sets forth statutory reserves by plan code with respect to the Annuity Contracts as of September 21, 1996 and the updated Schedule 3.8(b) will set forth such information with respect to the Annuity Contracts as of the date of such Schedule set forth above. All Annuity Contracts are in all respects, to the extent required under applicable Laws, on forms approved by applicable insurance regulatory authorities or which have been filed and not objected to by such authorities within the period provided for objection, and such forms comply in all material respects and have been administered in all material respects in accordance with applicable Laws. Without limiting the foregoing:
(a) Seller has offered and sold each Annuity Contract in compliance with all applicable Laws (it being acknowledged that no representation is made with respect to independent agents of Seller except as provided in Section 3.8(h) hereof) and all of Seller's registrations, filings or submissions made by it with respect to the Annuity Contracts with any Governmental Entity were in material compliance with applicable Laws when filed.
(b) The transactions contemplated by this Agreement will not affect the validity and binding character of any Annuity Contract entered into or issued by Seller or render any admitted assets of Seller non-admitted under applicable Laws up to and including the Closing Date.
(c) Except as set forth in Schedule 3.8(c) attached hereto, and except in accordance with customary insurance industry practice, (i) Seller is not liable to pay commissions upon the renewal of any Annuity Contract nor (ii) is it a party to any agreement providing for the third-party collection of annuity premiums payable to Seller by any other Person which commissions o...
Annuity Contracts. Notwithstanding any other provision of this Trust Agreement or the Plan to the contrary, the Administrator shall retain all discretionary power relating to any annuity contract acquired by or delivered to the Trustee. As directed by the Administrator, the Trustee will acquire, hold and dispose of annuity contracts, deliver the purchase price, and exercise any and all rights, privileges, options, and elections under those policies. The Trustee will be fully discharged with respect to any policy when it is delivered to the Administrator.
Annuity Contracts. Will a Participant be entitled to apply the Vested portion of their Individual Account toward the purchase of an annuity contract, subject to Plan Section 5.02 (select one)?
