SEC. 83-7-27. Separate accounts to fund pension or profit sharing plans or to provide for life insurance or annuities.
Any domestic life insurance company may establish one (1) or more separate accounts, and may allocate thereto amounts (including without limitation proceeds applied under optional modes of settlement or under dividend options) to fund pension or profit sharing plans or to provide for life insurance or annuities (and benefits incidental thereto), payable in fixed or variable amounts or both.
SOURCES: Codes, 1942, Sec. 5649-31; Laws, 1968, ch. 475, Sec. 1; 1978, ch. 457, Sec. 1, eff from and after July 1, 1978.