modified guaranteed contract

Defined in 1 dictionary — U.S. Code

United States Code

26 U.S.C. § 817A — for purposes of this section (4 versions over time)

For purposes of this section, the term “modified guaranteed contract” means a contract not described in section 817—

(1) all or part of the amounts received under which are allocated to an account which, pursuant to State law or regulation, is segregated from the general asset accounts of the company and is valued from time to time with reference to market values,

(2) which—

(A) provides for the payment of annuities,

(B) is a life insurance contract, or

(C) is a pension plan contract which is not a life, accident, or health, property, casualty, or liability contract,

(3) for which reserves are valued at market for annual statement purposes, and

(4) which provides for a net surrender value or a policyholder’s fund (as defined in section 807(e)(1)).