DIVERSIFICATION AND RELATED LIMITATIONS. 6.1 Subject to the Company’s obligations under Section 2.2 hereof, the Trust represents and warrants that it will at all times invest its assets in such a manner as to ensure that the Contracts will be treated as annuity, endowment, or life insurance contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Trust will at all times ensure that the Trust complies with Section 817(h) of the Code and Treas. Reg. § 1.817-5, as amended from time to time, and any Treasury interpretations thereof, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. 6.2 Trust shares will not be sold to any person or entity that would result in the Contracts not being treated as annuity, endowment, or life insurance contracts, in accordance with the statutes and regulations referred to in Section 6.1 hereof.
Appears in 7 contracts
Samples: Participation Agreement, Participation Agreement (State Farm Life & Accident Ass Co Var Ann Sep Acct), Participation Agreement (State Farm Life & Accident Assur Co Var Life Sep Acct)
