VM-21: Requirements for Principle-Based Reserves for ...
The gross asset-based charges for a product shall equal the sum of all contractual asset-based charges plus fund management fees or allowances based on the underlying variable annuity funds received by the insurer determined by complying with the requirements for prudent estimate described in Section 1.E.2.i and revenue sharing described in Section 3.A.5. Net asset-based charges equal gross ... ................
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