Disinterested Trustees. The Trust agrees that the Board of Trustees shall at all times consist of trustees a majority of whom (the "Disinterested Trustees") are not interested persons of the Adviser or the Distributor within the meaning of Section 2(a)(19) of the 1940 Act.
Appears in 8 contracts
Samples: Participation Agreement (Variable Separate Account of Anchor National Life Insur Co), Participation Agreement (Sierra Variable Trust), Participation Agreement (Agl Separate Account D)
Disinterested Trustees. The Trust agrees that the its Board of Trustees shall at all times consist of trustees a majority of whom (the "Disinterested Trustees") are not interested persons of the Adviser or the Distributor Trust within the meaning of Section 2(a)(19) of the 1940 Act.
Appears in 2 contracts
Samples: Participation Agreement (Separate Account of Usaa Life Insurance Co), Participation Agreement (Life Insurance Separate Account of Usaa Life Insurance Co)
