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FORM N-8B-2
REGISTRATION STATEMENT OF UNIT INVESTMENT TRUSTS
WHICH ARE CURRENTLY ISSUING SECURITIES
Pursuant to Section 8(b) of the
Investment Company Act of 1940
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ICMG REGISTERED VARIABLE LIFE
SEPARATE ACCOUNT ONE
(Name of Unit Investment Trust)
Issuer of periodic payment plan
certificates only for purposes
of information provided herein.
I. ORGANIZATION AND GENERAL INFORMATION
1. (a) Furnish name of the trust and the Internal Revenue Service Employer
Identification
Number:
ICMG REGISTERED VARIABLE LIFE SEPARATE ACCOUNT ONE ("Separate
Account"). IRS Employer Identification Number: The Separate Account
shall report under the employer identification number of the Depositor
- ITT Hartford Life and Annuity Insurance Company ("ITT Hartford").
(b) Furnish title of each class or series of securities issued by the
trust:
Group Flexible Premium Variable Life Insurance Policies ("Policies").
2. Furnish the name and principal business address and Zip Code and the
Internal Revenue Service Employer Identification Number of each depositor
of the trust:
ITT Hartford Life and Annuity Insurance Company
P.O. Box 2999
Hartford, Connecticut 06104
IRS Employer Identification Number: 39-1052598
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3. Furnish name and principal business address and Zip Code and the Internal
Revenue Service Employer Identification Number of each custodian or trustee
of the trust indicating for which class or series of securities each
custodian or trustee is acting.
Not Applicable.
4. Furnish name and principal business address and Zip Code and the Internal
Revenue Service Employer Identification Number of each principal
underwriter currently distributing securities of the trust.
No Policies are currently being distributed. When such distribution
commences, Hartford Equity Sales Company, Inc. will be the "Principal
Underwriter."
Hartford Equity Sales Company, Inc.
P.O. Box 2999
Hartford, Connecticut 06104
IRS Employer Identification Number: 06-0896599
5. Furnish name of state or other sovereign power, the laws of which govern
with respect to the organization of the trust.
Wisconsin
6. (a) Furnish the dates of execution and termination of any indenture or
agreement currently in effect under the terms of which the trust
was organized and issued or proposes to issue securities.
The Separate Account was established pursuant to a resolution of the
Board of Directors of ITT Hartford on October 9, 1995. The Separate
Account will continue in existence until its complete liquidation
and the distribution of its assets to the persons entitled to receive
them.
(b) Furnish the dates of execution and termination of any indenture or
agreement currently in effect pursuant to which the proceeds of
payments on securities issued or to be issued by the trust are held
by the custodian or trustee.
There is no indenture or trust agreement. ITT Hartford, the Depositor,
will perform all functions normally performed by a custodian.
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7. Furnish in chronological order the following information with respect to
each change of name of the trust since January 1, 1930. If the name has
never been changed, so state.
The Separate Account has never been known by any other name.
8. State the date on which the fiscal year of the trust ends.
The fiscal year of the Separate Account ends on December 31.
MATERIAL LITIGATION
9. Furnish a description of any pending legal proceedings, material with
respect to the security holders of the trust by reason of the nature
of the claim or the amount thereof, to which the trust, the depositor,
or the principal underwriter is a party or which the assets of
the trust are the subject, including the substance of the claims involved
in such proceeding and the title of the proceeding. Furnish a similar
statement with respect to any pending administrative proceeding commenced
by a governmental authority or any such proceeding or legal proceeding
known to be contemplated by a governmental authority. Include any
proceeding which, although immaterial in itself, is representative of, or
one of, a group of which in the aggregate is material.
There are no material legal proceedings pending.
II. GENERAL DESCRIPTION OF THE TRUST AND SECURITIES OF THE TRUST
GENERAL INFORMATION CONCERNING THE SECURITIES OF THE TRUST AND THE
RIGHTS OF HOLDERS
10. Furnish a brief statement with respect to the following matters for each
class or series of securities issued by the trust:
(a) Whether the securities are of the registered or bearer type.
The Policies and Certificates issued thereunder ("Certificates") are
of the registered type insofar as all Certificates are personal to
the Owner, and the records concerning the Owner are maintained by
ITT Hartford.
(b) Whether the securities are of the cumulative or distributive type.
The Policies are of the cumulative type.
(c) The rights of security holders with respect to withdrawal or
redemption.
At any time prior to the maturity date, the Owner may surrender the
Certificate and
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receive the cash surrender value, provided the Certificate has a cash
surrender value. An applicant has a limited right to return his or her
Certificate for cancellation. Subject to applicable state regulations,
if the Owner returns the Certificate within 10 days after delivery of
the Certificate, ITT Hartford will return to the applicant, within
7 days thereafter, the greater of the premium paid for the Policy, or
the sum of (1) the cash value on the date the returned Certificate is
received by ITT Hartford and (2) any charges deducted under the
Certificate.
(d) The rights of security holders with respect to conversion, transfer,
partial redemption, and similar matters.
Up to five withdrawals are allowed each Coverage Year. The minimum
partial withdrawal allowed is $500.00. The maximum partial withdrawal
is an amount equal to the sum of the Cash Surrender Value plus
outstanding debt, multiplied by .90 minus outstanding debt. ITT
Hartford currently imposes a maximum partial withdrawal
charge of $25.00. The Owner may transfer a Certificate's sub-account
values to other sub-accounts.
(e) If the trust is the issuer of periodic payment plan certificates, the
substance of the provisions of any indenture or agreement with respect
to lapses or defaults by security holders in making principal payments,
and with respect to reinstatement.
Because the Certificate is a life insurance policy certain monthly
charges are made against the net cash value to maintain the benefits
provided by the Certificate. If the Cash Surrender Value is
insufficient to cover the charges due under the Certificate the
policy will be in default, unless the Owner has given ITT Hartford
written notice of termination in advance of the date of termination
of the Certificate. ITT Hartford will grant a 61-day grace period
for the payment of the additional premium in an amount sufficient
to cover the monthly charges due during which time insurance will
remain in force.
In the event that outstanding indebtedness under the Certificate equals
or exceeds the cash surrender value, the Certificate will terminate 31
days after ITT Hartford mails notice to the Owner's last known address.
If sufficient loan repayment is not made by the end of the 31 day
period, the Certificate will terminate without value.
Prior to the death of the Insured, and unless (1) the Group Policy is
terminated or (2) the Certificate has been surrendered for cash, the
Certificate may be reinstated prior to the Maturity Date, provided:
(a) the Owner requests reinstatement within three (3) years of the date
of lapse; and
(b) satisfactory evidence of insurability is submitted.
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The cost to reinstate is a premium large enough to keep the coverage
under the Certificate in force for at least 3 months following the date
of reinstatement. The Face Amount of the reinstated Certificate cannot
exceed the Face Amount at the time of lapse. The Investment Value on
the reinstatement date will reflect:
(a) The Investment Value at the time of termination; plus
(b) Net Premiums attributable to premiums paid at the time of
reinstatement.
Upon reinstatement, any outstanding indebtedness at the time of
termination must be repaid or carried over to the reinstated
Certificate.
(f) The substance of any provisions of any indenture or agreement with
respect to voting rights, together with the names of any persons
other than security holders given the right to exercise voting rights
pertaining to the trust's securities or the underlying securities
and the relationship of such persons to the trust.
The underlying securities of the Separate Account currently are shares
in the Hartford Funds: Hartford Capital Appreciation Fund, Hartford
Bond Fund, HVA Money Market Fund; shares of the Neuberger & Berman
Advisers Management Trust, including the Partners Portfolio, Balanced
Portfolio and Limited Maturity Bond Portfolio; shares of the Fidelity
VIP Fund and VIP II Fund, including the Equity Income Portfolio, High
Income Portfolio, Overseas Portfolio and Assets Manager Portfolio; and
shares of the Alger American Fund, including the Small Capitalization
Portfolio and the Growth Portfolio.
ITT Hartford will vote shares of the Funds at regular and special
meetings of the Shareholders of the Funds in accordance with
instructions received from Owners having a voting interest in the
Separate Account. ITT Hartford will vote shares for which it has
not received instructions in the same proportion as it votes shares
for which it has received instructions. However, if the Investment
Company Act of 1940 or any regulation thereunder should be amended
or if the present interpretation thereof should change, and as a
result ITT Hartford determines that it is permitted to vote the
Fund shares in its own right, it may elect to do so.
ITT Hartford may, when required by state insurance regulatory
authorities, disregard voting instructions if the instructions require
that the shares be voted so as to cause a change in the
sub-classification or investment objective of one or
more of the Funds or to approve or disapprove an investment
advisory policy for the Funds. In addition, ITT Hartford
itself may disregard voting instructions in favor of changes
initiated by an Owner in the investment policy or the
investment adviser of the Funds if ITT Hartford reasonably disapproves
of such changes. A change would be disapproved only if the proposed
change is contrary to state law or prohibited by state regulatory
authorities. In the event ITT Hartford does disregard voting
instructions, a summary of that action and the reasons for such action
will be included in the next periodic report to Policy Owners.
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(g) Whether security holders must be given notice of any change in:
(1) the composition of the assets of the trust.
Notice must be given of any such proposed change.
(2) the terms and conditions of the securities issued by the trust.
Notice must be given of any such proposed change.
(3) the provisions of any indenture or agreement of the trust.
Inapplicable - there is no indenture or agreement of the trust.
See answer to Item 6(b) above.
(4) the identity of the depositor, trustee or custodian.
There is no provision requiring notice to Owners with respect to
any change in the identity of the Separate Account's depositor.
ITT Hartford's obligations under the Certificates, however,
cannot be transferred to any other entity without notice to and
consent of the Owners.
(h) Whether the consent of security holders is required in order for
action to be taken concerning any change in:
(1) the composition of the assets of the trust.
Consent of Owners may be required when substituting the underlying
securities of the Separate Account. In addition, to substitute
such securities, approval of the Securities and Exchange
Commission may be required in compliance with Section 26(b) of
the Investment Company Act of 1940. ITT Hartford may, however,
add additional sub-accounts without the consent of Owners. Except
as required by Federal or State law or regulation, no action will
be taken by the ITT Hartford which will adversely affect the
rights of Owners without their consent.
(2) the terms and conditions of the securities issued by the trust.
No change in the terms and conditions of the Certificates can be
made without the consent of the Owners.
(3) the provisions of any indenture or agreement of the trust.
See Item 10(g)(3) above.
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(4) the identity of the depositor, trustee or custodian.
There is no provision requiring consent of Owners with respect to
any change in the identity of the Separate Account's depositor.
ITT Hartford's obligations under the Certificates, however,
cannot be transferred to any other entity without notice to and
consent of the Owners. There is no provision requiring consent
of Owners with respect to any change in the identity of the
custodian.
(i) Any other principal feature of the securities issued by the trust or
any other principal right, privilege or obligation not covered by
subdivisions (a) to (g) or by any other item in this form.
The Policy provides group insurance coverage to eligible employees of
participating employers covered under a Certificate of insurance. A
death benefit is payable to the beneficiary upon the death of the
insured person.
The group policy is issued to participating employers or to a trust
that is adopted by a participating employer. Eligible employees of
participating employers own Certificates of insurance issued under
their respective Participating Employer's group policy. The minimum
initial face amount is $50,000. The Death Proceeds payable to the
beneficiary equal the Death Benefit less any outstanding loans plus
any rider benefits payable. The Death Benefit is one of two options:
Option A provides a death benefit equal to the greater of the Policy
face amount and the variable insurance amount; Option B provides a
death benefit equal to the greater of the Policy face amount plus the
account value and the variable insurance amount.
The variable insurance amount is equal to the Cash Value multiplied
by the applicable variable insurance factor provided for in the
Certificate.
INFORMATION CONCERNING THE SECURITIES UNDERLYING THE TRUST'S SECURITIES
11. Describe briefly the kind or type of securities comprising the unit of
specified securities in which the security holders have an interest.
The securities held in the Separate Account will be shares of registered,
open-end diversified management investment companies (the "Funds")
described below.
HARTFORD BOND FUND, INC. ("HARTFORD BOND PORTFOLIO")
The Hartford Bond Portfolio seeks to achieve maximum current income consistent
with preservation of capital. The Portfolio invests primarily in fixed-income
securities.
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HARTFORD CAPITAL APPRECIATION FUND, INC. ("HARTFORD CAPITAL
APPRECIATION PORTFOLIO")
The Hartford Capital Appreciation Portfolio seeks to achieve growth of
capital by investing in securities selected solely on the basis of potential
for capital appreciation; income, if any, is an incidental consideration.
This Portfolio invests primarily in equity securities and securities
convertible into equity securities.
HVA MONEY MARKET FUND, INC. ("HVA MONEY MARKET PORTFOLIO")
The HVA Money Market Portfolio seeks to achieve maximum current income
consistent with liquidity and preservation of capital. This Portfolio
invests in short-term money market securities.
NEUBERGER & BERMAN PARTNERS PORTFOLIO ("N&B PARTNERS PORTFOLIO")
The N&B Appreciation Portfolio seeks to achieve capital growth. This
Portfolio invests primarily in common stocks of established companies, using
a value-oriented investment approach designed to increase capital with
reasonable risk. Its investment program seeks securities believed to be
undervalued based on strong fundamentals such as low price-to-earnings
ratios, consistent cash flow and support from asset values.
NEUBERGER & BERMAN BALANCED PORTFOLIO ("N&B BALANCED PORTFOLIO")
The N&B Balanced Portfolio seeks to achieve long-term capital growth and
reasonable current income without undue risk to principal. Under normal
circumstances, this Portfolio will invest 50% to 70% of its assets in a
diversified portfolio of common stocks of companies that, although
potentially temporarily out of favor in the market, have strong balance
sheets and reasonable valuations relative to their growth rates. This
Portfolio will invest its remaining assets in a diversified portfolio of
short-term and intermediate-term U.S. government and agency securities and
other investment grade debt securities.
NEUBERGER & BERMAN LIMITED MATURITY BOND PORTFOLIO
("N&B LIMITED MATURITY BOND PORTFOLIO")
The N&B Limited Maturity Bond Portfolio seeks to achieve the highest current
income consistent with low risk to principal and liquidity; and secondarily,
total return. This Portfolio invests in a diversified portfolio of fixed
and variable rate short-term and intermediate-term U.S. government and agency
securities and other investment grade debt securities.
FIDELITY EQUITY-INCOME PORTFOLIO ("FIDELITY EQUITY-INCOME PORTFOLIO")
The Fidelity Equity-Income Portfolio seeks reasonable income by investing
primarily in income-producing equity securities. In choosing these
securities, the Portfolio will also consider
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the potential for capital appreciation. The Portfolio's goal is to achieve
a yield which exceeds the composite yield on the securities comprising the
Standard & Poor's Daily Stock Price Index of 500 Common Stocks. The
Portfolio may invest in high yielding, lower-rated securities (commonly
referred to as "junk bonds") which are subject to greater risk than
investments in higher-rated securities.
FIDELITY HIGH INCOME PORTFOLIO ("FIDELITY HIGH INCOME PORTFOLIO")
The Fidelity High Income Portfolio seeks high current income primarily
through investments in all types of income-producing debt securities,
preferred stocks and convertible securities. The Portfolio's investments will
include high yielding debt securities, with an emphasis on lower-rated
securities (commonly referred to as "junk bonds") which are subject to
greater risk than investments in higher-rated securities.
FIDELITY OVERSEAS PORTFOLIO ("FIDELITY OVERSEAS PORTFOLIO")
The Fidelity Overseas Portfolio seeks long-term growth of capital primarily
through investments in foreign securities and provides a means for aggressive
investors to diversify their own portfolios by participating in companies and
economies outside of the United States.
FIDELITY ASSET MANAGER PORTFOLIO ("FIDELITY ASSET MANAGER PORTFOLIO")
The Fidelity Asset Manager Portfolio seeks high total return with reduced
risk over the long-term by allocating its assets among stocks, bonds and
short-term fixed-income instruments.
ALGER AMERICAN GROWTH PORTFOLIO ("ALGER AMERICAN GROWTH
PORTFOLIO")
The Alger American Growth Portfolio seeks long-term capital appreciation by
investing in a diversified, actively managed portfolio of equity securities,
primarily of companies with total market capitalization of $1 billion or
greater.
ALGER AMERICAN SMALL CAPITALIZATION PORTFOLIO ("ALGER AMERICAN SMALL
CAPITALIZATION PORTFOLIO")
The Alger American Small Capitalization Portfolio seeks long-term capital
appreciation by investing in a diversified, actively managed portfolio of
equity securities, primarily of companies with total market capitalization of
less than $1 billion.
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12. If the trust is the issuer of periodic payment plan certificates, and if
any underlying securities were issued by another investment company,
furnish the following information for each such company:
(a) Name of Company.
The Hartford Funds currently are Hartford Bond Fund, Inc., Hartford
Capital Appreciation Fund, Inc., and HVA Money Market Fund, Inc.
The Neuberger & Berman Funds are shares of the Neuberger & Berman
Advisers Management Trust, including the Partners Portfolio,
Balanced Portfolio and Limited-Maturity Bond Portfolio.
The Fidelity Funds are shares of the Fidelity VIP Fund and VIP II Fund,
including the Equity-Income Portfolio, High Income Portfolio, Overseas
Portfolio and Asset Manager Portfolio.
The Alger Funds are shares of the Alger American Fund, including the
Small Capitalization Portfolio and the Growth Portfolio.
(b) Name and principal business address of depositor.
Not Applicable.
(c) Name and principal business address of trustee or custodian.
Not applicable.
(d) Name and principal business address of principal underwriter.
Not applicable.
(e) The period during which the securities of such Company have been the
underlying securities.
No underlying securities have been acquired by the Separate Account.
INFORMATION CONCERNING LOADS, FEES, CHARGES AND EXPENSES
13. (a) Furnish the following information with respect to each load, fee,
expense or charge to which (1) principal payments, (2) underlying
securities, (3) distributions, (4) cumulated or reinvested
distributions or income, and (5) redeemed or liquidated assets of
the trust's securities are subject:
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(A) the nature of such load, fee, expense or charge;
(B) the amount thereof;
(C) the name of the person to whom such amounts are paid and his
relationship to the trust;
(D) the nature of the services performed by such person in
consideration for such
load, fee, expense or charge.
(1) Principal payments
(A) ITT Hartford deducts a percentage of premium for front-end sales
load, premium processing charge, state premium tax and federal
tax charge. ITT Hartford deducts a front-end sales load based on
the level of premiums paid. The front-end sales load will not
exceed 9.0%. ITT Hartford deducts an amount from each premium
payment to cover state premium taxes assessed against ITT
Hartford that are attributable to premiums. The actual amount
of premium taxes varies by locale and currently ranges from 0%
to 4%. ITT Hartford deducts a 1.25% charge from each premium
payment to cover the estimated cost of the federal income tax
treatment of the Certificates deferred acquisition costs under
Section 848 of the Internal Revenue Code ("Code").
ITT Hartford also deducts certain charges from the account value
to provide for the Monthly Deduction Amount. These will be taken
on a pro rata basis from the Sub-Accounts or from a designated
sub-account (if selected) on the Monthly Activity Date and will
vary from month to month. The Monthly Deduction Amount equals
the cost of insurance charge plus an administrative expense
charge. The cost of insurance charge is to cover ITT Hartford's
anticipated mortality costs. A charge is made for additional
benefits provided by rider, if any. An administrative expense
charge in the amount of $5.00 per month initially and is
guaranteed never to exceed $10.00 per month.
A charge is made for mortality and expense risk assumed by ITT
Hartford. ITT Hartford deducts a daily charge at a maximum
effective annual rate of .65% of the value of each sub-account's
assets. The mortality risk assumed is that the actual cost of
insurance charges specified in the Certificate will be
insufficient to meet actual claims. The expense risk assumed is
that expenses incurred in issuing and administering the
Certificates will exceed the administrative charges described
above.
(B) See (A), above.
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(C) See (A), above.
(D) See (A), above.
(2) Underlying Securities
HARTFORD BOND FUND, INC.
The Funds pay the Adviser, The Hartford Investment Management
Company, Inc. an advisory fee annually which decreases from
.325% to .25% according to the average daily net asset value
of the shares of the Fund.
HARTFORD CAPITAL APPRECIATION FUND, INC.
The Funds pay the Adviser, The Hartford Investment Management
Company, Inc., an advisory fee annually which decreases from
.575% to .425% according to the average daily net asset value
of the shares of the Fund.
HVA MONEY MARKET FUND, INC.
The Funds pay the Adviser, The Hartford Investment Management
Company, Inc. an advisory fee of .25% annually of the value of
the average daily net assets of the Fund.
NEUBERGER & BERMAN PARTNERS PORTFOLIO
The Fund pays the Adviser, Neuberger & Berman Management Incorporated,
an advisory fee quarterly at annual rate of of the Fund's
average daily net asset value.
NEUBERGER & BERMAN BALANCED PORTFOLIO
The Fund pays the Adviser, Neuberger & Berman Management Incorporated,
an advisory fee quarterly at annual rate of of the Fund's
average daily net asset value.
NEUBERGER & BERMAN LIMITED MATURITY BOND PORTFOLIO
The Fund pays the Adviser, Neuberger & Berman Management Incorporated,
an advisory fee quarterly at annual rate of of the Fund's
average daily net asset value.
FIDELITY EQUITY-INCOME PORTFOLIO
The Fund pays the Adviser, Fidelity Management & Research Company, an
advisory fee quarterly at an annual rate which ranges from 0.30% to
0.52% (Group Fee Rate) or 0.20% (Individual Portfolio Fee Rate) of
the Fund's average daily net asset value.
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FIDELITY HIGH INCOME PORTFOLIO
The Fund pays the Adviser, Fidelity Management & Research Company, an
advisory fee quarterly at an annual rate which ranges from % to
% (Group Fee Rate) or % (Individual Portfolio Fee Rate)
of the Fund's average daily net asset value.
FIDELITY OVERSEAS PORTFOLIO
The Fund pays the Adviser, Fidelity Management & Research Company, an
advisory fee quarterly at an annual rate which ranges from 0.30% to
0.52% (Group Fee Rate) or 0.45% (Individual Portfolio Fee Rate) of
the Fund's average daily net asset value.
FIDELITY ASSET MANAGER PORTFOLIO
The Fund pays the Adviser, Fidelity Management & Research Company, an
advisory fee quarterly at an annual rate which ranges from 0.30% to
0.52% (Group Fee Rate) or 0.40% (Individual Portfolio Fee Rate) of the
Fund's average daily net asset value.
ALGER AMERICAN SMALL CAPITALIZATION PORTFOLIO
The Fund pays the Adviser, Fred Alger Management, Inc., an advisory fee
quarterly at an annual rate of of the Fund's average daily net asset
value.
ALGER AMERICAN GROWTH PORTFOLIO
The Fund pays the Adviser, Fred Alger Management, Inc., an advisory fee
quarterly at an annual rate of of the Fund's average daily net
asset value.
(3) Distributions.
None with respect to distributions on death of the insured.
(4) Cumulated or reinvested distributions or income.
All investment income and other distributions are reinvested in the Fund
shares at net asset value.
(5) Redeemed or liquidated assets.
There are no charges associated with surrenders under the Policy. Upon
surrender, the Policy Owner will receive the Cash Surrender Value.
The Cash Surrender Value equals the Cash Value less any outstanding
indebtedness, less any charges accrued but not yet deducted.
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A maximum of five (5) partial withdrawals are allowed each Coverage
Year. The minimum partial withdrawal allowed is $500.00. The maximum
partial withdrawal is an amount equal to the sum of the Cash Surrender
Value, plus outstanding indebtedness multiplied by .90% less any
outstanding indebtedness. ITT Hartford currently imposes a partial
withdrawal charge of $25. The Policy Owner may transfer a Policy's
sub-account values to other sub-accounts.
(b) For each installment payment type of periodic payment plan certificate
of the trust, furnish the following information with respect to sales
load and other deductions from principal payments.
See response to Item 13(a)(1).
(c) State (1) the amount of sales load as a percentage of the net amount
invested, and (2) the amount of total deductions as a percentage of
the net amount invested for each type of security issued by the trust.
(1) The amount of sales load as a percentage of the net amount
invested will not exceed 9.0%.
(2) The amount of the total deductions as a percentage of the net
amount invested will not exceed 10.25%.
An application for exemption under Section 6(c) of the Investment
Company Act of 1940 is being filed simultaneously with this Form
N-8B-2 filing to allow ITT Hartford to exclude the DAC tax
deduction from the calculation of "sales load".
(d) Furnish a brief description of any loads, fees, expenses or charges
not covered in Item 13(a) which may be paid by security holders in
connection with the trust or its securities.
ITT Hartford does not expect to incur any federal income tax on the
earnings or realized capital gains attributable to the Separate
Account. However, if ITT Hartford incurs income taxes attributable
to the Separate Account or determines that such taxes may be incurred,
it may assess a charge for taxes against the Separate Account.
(e) State whether the depositor, principal underwriter, custodian or
trustee, or any affiliated person of the foregoing may receive
profits or other benefits not included in answer to Item 13(a)
or 13(d) through the sale or purchase of the trust's securities or
interests in underlying securities, and describe fully the nature and
extent of such profits or benefits.
Neither ITT Hartford, principal underwriter nor custodian of the
Separate Account nor any affiliated person of the foregoing, may
receive any profit or any other benefit not
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included in answer to Item 13(a) or 13(d) through the sale
or purchase of the Certificate or Fund shares.
(f) State the percentage that the aggregate annual charges and deductions
for maintenance and other expenses of the trust, bear to the dividend
and interest income from the trust property during the period covered
by the financial statements filed herewith.
Not Applicable.
14. Describe the procedure with respect to applications (if any), and the
issuance and authentication of the trust's securities, and state the
substance of the provisions of any indenture or agreement pertaining
thereto.
A Participating Employer or a trust that is adopted by a Participating
Employer must complete an application on a form provided by ITT Hartford.
Eligible employees of Participating Employers become covered under the
employer's group policy after completing an enrollment form. Acceptance
of an employee's enrollment form is subject to ITT Hartford's underwriting
rules then in effect. The minimum face amount is $50,000.
15. Describe the procedure with respect to the receipt of payments from
purchasers of the trust's securities and the handling of the proceeds
thereof, and state the substance of the provisions of any indenture or
agreement pertaining thereto.
Depending upon the state of issuance of the Certificate, initial net
premiums will either be (1) invested in the HVA Money Market Investment
Division during the right to examine period or (2) invested immediately
in the Investment Divisions the Owner elects. If initial premiums were
allocated to the HVA Money Market Investment Division, upon the expiration
of the right to examine period, the initial net premium will be allocated
to the appropriate investment divisions according to the Owner's original
instructions. Subsequent premium payments will be allocated according to
the instructions then in effect. The net investment results of each
investment division vary with the investment results of the Fund shares
which are the underlying investments of the Investment Division.
16. Describe the procedure with respect to the acquisition of underlying
securities and the disposition thereof, and state the substance of the
provisions of any indenture or agreement pertaining thereto.
Depending on the state of issuance, ITT Hartford will allocate the entire
premium to either the HVA Money Market Investment Division or according to
the allocation instructions contained in the Owner's enrollment form.
At the expiration of the right to examine period described in Item 15
above, if applicable, ITT Hartford will transfer the account balance in
the HVA Money Market Investment Division according to the allocation
instructions. Redemption of Fund shares may be ordered by ITT Hartford to
permit the payment of
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benefits or amounts in connection with requests for surrender, for loans
or for other purposes contemplated by the Certificates.
17. (a) Describe the procedure with respect to withdrawal or redemption by
security holders.
Any surrender by a Policy Owner may be made by communication in writing
to ITT Hartford. A maximum of five (5) partial withdrawals are allowed
each Coverage Year. The minimum partial withdrawal allowed is $500.00.
The maximum partial withdrawal is an amount equal to the Cash Surrender
Value plus outstanding indebtedness, multiplied by .90, less outstanding
indebtedness. ITT Hartford currently imposes a $25.00 fee for processing
partial withdrawals.
(b) Furnish the names of any persons who may redeem or repurchase, or
are required to redeem or repurchase, the trust's securities or
underlying securities from security holders, and the substance of the
provisions of any indenture or agreement pertaining thereto.
ITT Hartford is required to honor withdrawal requests as described in
Items 10(c) and 17 (a). With respect to the Separate Account's
underlying securities, the Funds are required to redeem their shares
at net asset value and to make payment therefor within seven (7) days.
(c) Indicate whether repurchased or redeemed securities will be cancelled
or may be resold.
When cash values under a Certificate are surrendered, those securities
are cancelled.
18. (a) Describe the procedure with respect to the receipt, custody and
disposition of the income and other distributable funds of the trust
and state the substance of the provisions of any indenture or
agreement pertaining thereto.
All income and other distributable funds of the Separate Account are
reinvested in Fund shares and are added to the assets of the Separate
Account.
(b) Describe the procedure, if any, with respect to the reinvestment of
distributions to security holders and state the substance of the
provisions of any indenture or agreement pertaining thereto.
Not Applicable.
(c) If any reserves or special funds are created out of income or principal,
state with respect to each such reserve or fund the purpose and
ultimate disposition thereof, and describe the manner of handling the
same.
There are no reserves currently established in the Separate Account.
-16-
<PAGE>
(d) Submit a schedule showing the periodic and special distributions
which have been made to security holders during the three (3) years
covered by the financial statements filed herewith. State for each
such distribution the aggregate amount and amount per share. If
distributions from sources other than current income have been
made, identify each such other source and indicate whether
such distribution represents the return of principal payments to
security holders. If payments other than cash were made, describe
the nature thereof, the account charged and the basis of determining
the amount of such charge.
No distributions have been made. The Separate Account has not commenced
operations.
19. Describe the procedure with respect to keeping of records and accounts
of the trust, the making of reports and the furnishing of information to
security holders, and the substance of the provisions of any indenture or
agreement pertaining thereto.
ITT Hartford will undertake all administration with respect to the
Certificates and the Separate Account including making and maintaining
all records relating to Owner accounts and providing reports to
Participating Employers and Certificate Owners.
20. State the substance of the provisions of any indenture or agreement
concerning the trust with respect to the following:
(a) Amendments to such indenture or agreement.
See Item 10(g)(3) above.
(b) The extension or termination of such indenture or agreement.
Not Applicable.
(c) The removal or resignation of the trustee or custodian, or the
failure of the trustee or custodian to perform its duties,
obligations and functions.
ITT Hartford performs all functions customarily performed by
a custodian or trustee. The Separate Account shall continue
until the Separate Account's assets have been completely
distributed or liquidated and the proceeds of the liquidation
distributed by ITT Hartford to Owners.
(d) The appointment of a successor trustee and the procedure if a
successor trustee is not appointed.
Not Applicable.
-17-
<PAGE>
(e) The removal or resignation of the depositor, or the failure of the
depositor to perform its duties, obligations, and functions.
See Item 20(c).
(f) The appointment of a successor depositor and the procedure if a
successor depositor is not appointed.
See Item 20(c).
21. (a) State the substance of the provisions of any indenture or agreement
with respect to loans to security holders.
An Owner may obtain a cash loan from ITT Hartford. The maximum loan
amount is equal to the sum of the Cash Surrender Value plus outstanding
ndebtedness, multiplied by .90, less outstanding indebtedness.
(b) Furnish a brief description of any procedure or arrangement by which
loans are made available to security holders by the depositor,
principal underwriter, trustee or custodian, or any affiliated person
of the foregoing.
An Owner may obtain a cash loan from ITT Hartford. The maximum loan
amount is equal to the sum of the Cash Surrender Value plus outstanding
indebtedness, multiplied by .90, less outstanding indebtedness.
The amount of the loan will be transferred on a pro rata basis from each
of the Investment Divisions (unless the Owner specifies otherwise) to a
loan account. The amounts allocated to the Loan Account will bear
interest at a rate equal to the adjustable loan interest rate minus 1%
per annum.
The maximum adjustable loan interest rate is the greater of 5% and the
Published Monthly Average for the calendar month two months prior to
the date on which the adjustable loan interest rate is determined.
The Published Monthly Average means the "Moody's Corporate Bond Yield
Average-Monthly Average Corporate" or any successor or substitute
average, if necessary.
(c) If such loans are made, furnish the aggregate amount of loans
outstanding at the end of the last fiscal year, the amount of interest
collected during the last fiscal year allocated to the depositor,
principal underwriter, trustee or custodian or affiliated person of
the foregoing and the aggregate amount of loans in default at the end
of the last fiscal year covered by financial statements filed herewith.
Not Applicable.
-18-
<PAGE>
22. State the substance of the provisions of any indenture or agreement with
respect to limitations on the liabilities of the depositor, trustee or
custodian, or any other party to such indenture or agreement.
There is no such provision or agreement.
23. Describe any bonding arrangement for officers, directors, partners or
employees of the depositor or principal underwriter of the trust,
including the amount of coverage and the type of bond.
A blanket fidelity bond has been issued by Aetna Casualty and Surety
Company in the aggregate of $50,000,000 covering the officers,
directors and employees of ITT Hartford and affiliated companies.
24. State the substance of any other material provisions of any indenture or
agreement concerning the trust or its securities and a description of
any other material functions or duties of the depositor, trustee, or
custodian not stated on Item 10 or Items 14 to 23, inclusive.
The Certificate may be assigned as collateral for a loan or other
obligation. The Policy may change the Beneficiary (unless irrevocably
named) during the lifetime of the Insureds by written request to
ITT Hartford.
III. ORGANIZATION, PERSONNEL AND AFFILIATED PERSONS OF DEPOSITOR
ORGANIZATION AND OPERATIONS OF DEPOSITOR
25. State the form or organization of the depositor of the trust, the name
of the state or other sovereign power under the laws of which the
depositor was organized and the date of organization.
ITT Hartford was incorporated in Wisconsin as a stock life insurance
company.
26. (a) Furnish the following information with respect to all fees received
by the depositor of the trust in connection with the exercise of any
functions or duties concerning securities of the trust during the
period covered by the financial statements filed herewith.
Not Applicable.
(b) Furnish the following information with respect to any fee or any
participation in fees received by the depositor from any underlying
investment company or any affiliated person or investment adviser
of such company.
-19-
<PAGE>
See Item 13(a).
27. Describe the general character of the business engaged in by the
depositor including a statement as to any business other than that
of depositor of the trust. If the depositor acts or has acted in
any capacity with respect to any investment company or companies
other than the trust, state the name or names of such company or
companies, their relationship, if any, to the trust, and the nature of
the depositor's activities therewith. If the depositor has ceased to
act in such named capacity, state the date of the circumstances
surrounding such cessation.
ITT Hartford conducts a life insurance business.
OFFICIALS AND AFFILIATED PERSONS OF DEPOSITOR
28. (a) Furnish as at latest practical date the following information with
respect to the depositor of the trust, with respect to each officer,
director, or partner of the depositor, and with respect to each
natural person directly or indirectly owning, controlling or holding
with power to vote 5% or more of the outstanding voting securities
of the depositor.
(1) Officers and directors names - see table below.
The address for all officers and directors is:
P.O. Box 2999
Hartford, CT 06104
(2) Relationship - See table below.
(3) No officer or director owns 5% or more of the outstanding voting
securities of the depositor.
(4) Ownership of Trust
Not Applicable.
(5) Positions of officers and directors with other companies - see
table below.
(6) ITT Hartford is a stock life insurance company ultimately 100%
owned by Hartford Fire Insurance Company. Hartford Fire Insurance
Company is a subsidiary of ITT Corporation.
(b) Furnish a brief statement of the business experience during the last
five (5) years of each officer, director or partner of the depositor.
-20-
<PAGE>
The following are the officers and directors of ITT Hartford:
EXECUTIVE OFFICERS AND DIRECTORS
<TABLE>
<CAPTION>
OTHER BUSINESS
POSITION PROFESSION, VOCATION OR
WITH ITT HL&A, EMPLOYMENT PAST 5 YEARS;
NAME, AGE YEAR OF ELECTION FOR OTHER DIRECTORSHIPS
- ---------------------- -------------------------------- ---------------------------------------------------------------
<S> <C> <C>
Andrew, Joan M. Vice President, 1992 Vice President and Director, National Service
37 Center Operations (1992-Present), IHLA.
Boldischar, Paul J., Jr. Senior Vice President, Senior Vice President (1976-Present), IHLA.
53 1988
Condon, Francis I., Jr. Vice President, 1993 Vice President, Director of Sales (1993-Present)
48 IHLA; President (1993), Anderson Insurance
Agency, Inc.
Cummins, Peter W. Vice President, 1993 Vice President, Individual Annuity Operations
57 (1989-Present), Hartford Life Insurance Company.
deRaismes, Ann W. Vice President, 1994 Vice President (1994), Assistant Vice President
43 (1992), Director of Human Resources, (1991-
Present); Assistant Director of Human Resources,
(1987), Hartford Life Insurance Company.
Dooley, James R. Vice President, 1977 Vice President, Director Information Services
58 (1973-Present), IHLA.
Donald R. Frahm Director, 1995 Chairman and Chief Executive Officer (1988-
62 Present), Hartford Insurance Group.
Gardner, Bruce D. Director, 1991 General Counsel (1991), Corporate Secretary
44 (1988-1995), Associate General Counsel (1988),
Hartford Life Insurance Company.
Gareau, Joseph H. Executive Vice President, Executive Vice President and Chief Investment
47 Chief Investment Officer, Officer, (1993-Present), IHLA.
and Director, 1993
Gillette, Donald J. Vice President, 1993 Vice President, Director of Marketing (1991-
49 Present), IHLA; MSI Insurance (1986-1991).
</TABLE>
-21-
<PAGE>
EXECUTIVE OFFICERS AND DIRECTORS, cont.
<TABLE>
<CAPTION>
OTHER BUSINESS
POSITION PROFESSION, VOCATION OR
WITH ITT HL&A, EMPLOYMENT PAST 5 YEARS;
NAME, AGE YEAR OF ELECTION FOR OTHER DIRECTORSHIPS
- ---------------------- -------------------------------- ---------------------------------------------------------------
<S> <C> <C>
Godkin, Lynda Associate General Counsel Associate General Counsel and Corporate
41 and Corporate Secretary, Secretary (1995), Assistant General Counsel and
1995 Secretary (1994), Counsel (1990), Hartford Life
Insurance Company.
Grady, Lois W. Vice President, 1993 Vice President (1993-Present), Assistant Vice
49 President (1988), Hartford Life Insurance
Company.
Hall, David A. Senior Vice President Senior Vice President and Actuary (1993-
40 and Actuary, 1993 Present), Hartford Life Insurance Company.
Kanarek, Joseph Vice President, 1994 Vice President (1991-Present); Director (1992-
46 Director, 1994 Present), Hartford Life Insurance Company.
Kohlhof, LaVern L. Vice President and Vice President and Secretary (1976-Present)
64 Secretary, 1980 IHLA.
Malchodi, Jr., William B. Vice President, 1994 Vice President (1994-Present); Director of Taxes
43 Director or Taxes, 1992 (1992-Present); Assistant General Counsel and
Assistant Director of Taxes (1986), Hartford
Insurance Group.
Marra, Thomas M. Senior Vice President Senior Vice President (1994), Vice President
36 and Actuary, 1994 (1989), Director of Individual Annuities (1991),
Director, 1994 Assistant Vice President (1989), Hartford Life
Insurance Companies.
Masica, James G. Vice President, 1983 Vice President (1983-Present), and
51 Chief Actuary (1983-1994), IHLA.
Matthiesen, Steven L. Vice President, 1984 Vice President, Director of New Business
49 (1984-Present); Vice President, (1981), IHLA.
Raymond, Craig D. Vice President, 1993 Vice President and Chief Actuary (1994-Present),
32 Chief Actuary, 1994 Vice President (1993), Assistant Vice President
(1992), Actuary (1989-1994), Hartford Life
Insurance Company.
</TABLE>
-22-
<PAGE>
EXECUTIVE OFFICERS AND DIRECTORS
<TABLE>
<CAPTION>
OTHER BUSINESS
POSITION PROFESSION, VOCATION OR
WITH ITT HL&A, EMPLOYMENT PAST 5 YEARS;
NAME, AGE YEAR OF ELECTION FOR OTHER DIRECTORSHIPS
- ---------------------- -------------------------------- ---------------------------------------------------------------
<S> <C> <C>
Schrandt, David T. Vice President, Treasurer Vice President, Treasurer and Controller,
47 and Controller, 1987 (1987-Present) IHLA.
Smith, Lowndes A. President and Chief President and Chief Executive Officer (1993-
54 Executive Officer, 1993 Present), IHLA; President and Chief Operating
Director, 1985 Officer (1989-Present), Hartford Life Insurance
Company; Senior Vice President and Group
Controller (1987), Vice President and Group
Controller (1980), Hartford Insurance Group.
Zlatkus, Lizabeth H. Vice President and Vice President,Director Business Operations
35 Director, 1994 (1994), Assistant Vice President, Director
Executive Operations (1992), Executive Staff
Assistant to President (1990), Hartford Life
Insurance Company.
</TABLE>
- ---------------------------
* Denotes date of election to Board of Directors.
**ITT Hartford Affiliated Company.
29. Furnish at latest practicable date the following information with
respect to each Company which directly or indirectly owns, controls
or holds with power to vote five (5%) or more of the outstanding
voting securities of the depositor.
ITT Hartford is 100% owned by Hartford Life Insurance Company, which is 100%
owned by Hartford Life and Accident Insurance Company which is 100% owned by
Hartford Fire Insurance Company which is a subsidiary of ITT Corporation.
CONTROLLING PERSONS
30. Furnish as at latest practicable date the following information with
respect to any person, other than those covered by Item 28, 29 and 42, who
directly or indirectly controls the depositor.
None.
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<PAGE>
COMPENSATION OF OFFICERS OF DEPOSITOR
31. Furnish the following information with respect to the remuneration for
services paid by the depositor during the last fiscal year covered by
financial statements filed herewith:
(a) directly to each of the officers or partners of the depositor directly
receiving the three highest amounts of remuneration:
Not applicable, as of the date hereof the Separate Account has not yet
commenced operations.
(b) directly to all officers or partners of the depositor as a group
exclusive of persons whose remuneration is included under Item 31(a),
stating separately the aggregate amount paid by the depositor itself
and the aggregate amount paid by all the subsidiaries:
Not applicable, as of the date hereof the Separate Account has not yet
commenced operations.
(c) indirectly or through subsidiaries to each of the officers or partners
of the depositor:
Not applicable, as of the date hereof the Separate Account has not yet
commenced operations.
COMPENSATION OF DIRECTORS OF DEPOSITOR
32. Furnish the following information with respect to the remuneration for
services, exclusive of remuneration reported under Item 31, paid by the
depositor during the last fiscal year covered by financial statements filed
herewith:
(a) the aggregate direct remuneration to directors:
Not applicable, see Item 31.
(b) indirectly, or through subsidiaries, to directors:
Not applicable, see Item 31.
COMPENSATION TO EMPLOYEES
33. (a) Furnish the following information with respect to the aggregate
amount of remuneration for services of all employees of the depositor
(exclusive of persons whose remuneration is reported in Items 31 and
32) who received remuneration in excess of $10,000 during
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<PAGE>
the last fiscal year covered by financial statements filed herewith
from the depositor and any of its subsidiaries.
Not applicable, see Item 31.
(b) Furnish the following information with respect to the remuneration
for services paid directly during the last fiscal year covered by
financial statements filed herewith to the following classes of
persons (exclusive of those persons covered by Item 33(a)):
(1) sales manager, branch managers, district managers
and other persons supervising the sale of registrant's securities; (2)
salesmen, sales agents, canvassers and other persons making
solicitations but not in supervisory capacity; (3) administrative
and clerical employees; and (4) others (specify). If a person is
employed in more than one capacity, classify according to
predominant type of work.
Not applicable, see Item 31.
COMPENSATION TO OTHER PERSONS
34. Furnish the following information with respect to the aggregate amount
of compensation for services paid any persons (exclusive of persons whose
remuneration is reported in Item 31, 32 and 33), whose aggregate
compensation in connection with services rendered with respect to the trust
in all capacities exceeded $10,000 during the last fiscal year covered by
financial statements filed herewith from the depositor and any of its
subsidiaries.
Not applicable, see Item 31.
IV. DISTRIBUTION AND REDEMPTION OF SECURITIES
DISTRIBUTION OF SECURITIES
35. Furnish the names of the states in which sales of the trust's securities
(A) are currently being made, (B) are presently proposed to be made, and
(C) have been discontinued, indicating by appropriate letter the status
with respect to each state.
No sales of the Policies/Certificates have been made or are currently being
made. It is presently proposed to sell the Policies/Certificates in the
states where ITT Hartford is licensed to do business.
36. If sales of the trust's securities have at any time since January 1, 1936
been suspended for more than a month describe briefly the reasons for such
suspension.
Not Applicable.
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<PAGE>
37. (a) Furnish the following information with respect to each instance
where subsequent to January 1, 1937 any Federal or state governmental
officer, agency or regulatory body denied authority to distribute
securities of the trust, excluding a denial which was merely a
procedural step prior to any determination by such officer, etc. and
which denial was subsequently rescinded.
(1) Name of officer, agency or body.
(2) Date of denial.
(3) Brief statement of reasons given for denial.
Not Applicable.
(b) Furnish the following information with regard to each instance
where, subsequent to January 1, 1937 the authority to distribute
securities of the trust has been revoked by any Federal or state
governmental officer, agency or regulatory body.
(1) Name of officer, agency or body.
(2) Date of revocation.
(3) Brief statement of reason given for revocation.
Not Applicable
38. (a) Furnish a general description of the method of distribution of
securities of the trust.
ITT Hartford intends to sell the Group Policies in all jurisdictions
where it is licensed to do business. The Group Policies will be sold
by life insurance sales representatives who represent ITT Hartford
and who are registered representatives of Hartford Equity Sales
Company, Inc. ("HESCO"), or certain other registered broker-dealers.
Any sales representative or employee will have been qualified to sell
variable life insurance policies under applicable Federal and state
laws. Each broker-dealer is registered with the Securities and
Exchange Commission under the Securities Exchange Act of 1934
and all are members of the National Association of Securities Dealers,
Inc. HESCO is the principal underwriter for the Policies.
(b) State the substance of any current selling agreement between each
principal underwriter and the trust or the depositor, including a
statement as to the inception and termination dates of the agreement,
any renewal and termination provisions, and any assignment provisions.
-26-
<PAGE>
ITT Hartford intends to execute an agreement between Hartford Equity
Sales Company, Inc. and ITT Hartford whereby the underwriter will
distribute the Policies. The agreement will be effective on the date
executed and will continue in effect for a period of two years from
that date. The agreement, unless sooner terminated, shall continue in
effect from year to year provided that its continuance is specifically
approved annually by a vote of a majority of the Board of Directors.
The agreement may also be terminated by either party upon sixty (60)
days notice, and shall immediately terminate in the event of its
assignment.
(c) State the substance of any current agreements or arrangements of each
principal underwriter with dealers, agents, salesmen, etc., with respect
to commissions and overriding commissions, territories, franchises,
qualifications and revocations. If the trust is the issuer of periodic
payment plan certficates, furnish schedules of commissions and the
bases thereof. In lieu of a statement concerning schedules of
commissions, such schedules of commissions may be filed as
Exhibit A(3)(c).
See Exhibit A(3)(c).
INFORMATION CONCERNING PRINCIPAL UNDERWRITER
39. (a) State the form of organization of each principal underwriter of
securities of the trust, the name of the state or other sovereign
power under the laws of which each underwriter was organized and
the date of organization.
The Principal Underwriter is a corporation organized under the laws
of the state of Connecticut on July 3, 1973.
(b) State whether any principal underwriter currently distributing
securities of the trust is a member of the National Association
of Securities Dealers, Inc.
The Group Policies are not currently being distributed. However, the
Principal Underwriter is a member of the National Association of
Securities Dealers, Inc.
40. (a) Furnish the following information with respect to all fees received
by each principal underwriter of the trust from the sale of securities
of the trust and any other functions in connection therewith exercised
by such underwriter in such capacity or otherwise during the period
covered by the financial statements filed herewith.
Not Applicable.
(b) Furnish the following information with respect to any fee or any
participation in fees received by each principal underwriter from
any underlying investment company or any affiliated person or
investment adviser of such company:
-27-
<PAGE>
(1) The nature of such fee or participation.
(2) The name of the person making payment.
(3) The nature of the services rendered in consideration for such
fee or participation.
(4) The aggregate amount received during the last fiscal year
covered by the financial statements filed herewith.
Not Applicable.
41. (a) Describe the general character of the business engaged in by each
principal underwriter, including a statement as to any business
other than the distribution of securities of the trust. If a
principal underwriter acts or has acted in any capacity with respect
to any investment company or companies, other than the trust, state
the name or names of such company or companies, their relationship,
if any, to the trust and the nature of such activities. If a principal
underwriter has ceased to act in such named capacity, state the date of
and the circumstances surrounding such cessation.
The principal underwriter is registered as a broker-dealer with the
NASD and acts as the principal underwriter for HVA Money Market
Fund, Inc. and for various Separate Accounts of ITT Hartford and
affiliates.
(b) Furnish as at latest practicable date the address of each branch
office of each principal underwriter currently selling securities of
the trust and furnish the names and residence address of the person
in charge of such office.
Not Applicable.
(c) Furnish the number of individual salesmen of each principal underwriter
through whom any of the securities of the trust were distributed for
the last fiscal year of the trust covered by the financial statements
filed herewith and furnish the aggregate amount of compensation
received by such salesmen in such year.
Not Applicable.
42. Furnish as at latest practicable date the following information with
respect to each principal underwriter currently distributing securities of
the trust and with respect to each of the officers, directors or partners
of such underwriter.
Not Applicable.
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<PAGE>
43. Furnish, for the last fiscal year covered by the financial statements
filed herewith, the amount of brokerage commissions received by any
principal underwriter who is a member of a national securities exchange and
who is currently distributing the securities of the trust or effecting
transactions for the trust in the portfolio securities of the trust.
Not Applicable.
44. (a) Furnish the following information with respect to the method of
valuation used by the trust for purpose of determining the offering
price to the public of securities issued by the trust or the valuation of
shares or interests in the underlying securities acquired by the holder of
a periodic payment plan certificate:
Premiums to be allocated to the Separate Account will be invested at net
asset value in any of the Funds in accordance with the selection made by
the Owner. Allocations are then made among the Investment Divisions of the
Separate Account.
The Investment Value will fluctuate in accordance with the investment
results of the Investment Divisions. The Investment Value on any
Valuation Day is calculated by multiplying the number of Accumulation Units
credited to the Certificate in each Investment Division as of the Valuation
Day by the then Accumulation Unit Value of that Investment Division and then
summing the result for all the Investment Divisions credited to the
Certificate and the value of the amounts transferred to the loan accounts.
(b) Furnish a specimen schedule showing the components of the offering
price of the trust's securities as at the latest practicable date.
No Group Policies/Certificates have been offered for sale to the
public.
(c) If there is any variation in the offering price of the trust's
securities to any person or classes of person other than underwriters,
state the nature and amount of such variation and indicate the person
or classes of persons to whom such offering is made.
Front-end sales loads which cover expenses relating to the sale and
distribution of the Certificates may be reduced for certain sales of
the Certificates under circumstances which results in savings of
such sales and distribution expenses.
45. Furnish the following information with respect to any suspension of the
redemption rights of the securities issued by the trust during the three
fiscal years covered by the financial statement filed herewith:
(a) by whose action redemption rights were suspended.
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<PAGE>
(b) the number of days' notice given to security holders prior to
suspension of redemption rights.
(c) reason for suspension.
(d) period during which suspension was in effect.
Not Applicable.
REDEMPTION VALUATION OF SECURITIES OF THE TRUST
46. (a) Furnish the following information with respect to the method of
determining the redemption or withdrawal valuation of securities
issued by the trust:
(1) The sources of quotations used to determine the value of
portfolio securities.
Provided by the custodian for the Fund and will be used to value
Accumulation Units issued with respect to each of the respective
Investment Divisions of the Separate Account.
(2) Whether opening, closing, bid, asked or any other price is used.
Net Asset Value is used.
(3) Whether price is as of the day of sale or as of any other time.
As of the next Valuation Day.
(4) A brief description of the methods used by registrant for
determining other assets and liabilities including accrual for
expenses and taxes (including taxes on unrealized appreciation).
See Items 13(d), 17(a) and 18(c).
(5) Other items which registrant deducts from the net asset value in
computing redemption value of its securities.
See above.
(6) Whether adjustments are made for fractions.
Not Applicable.
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<PAGE>
(b) Furnish a specimen schedule showing the components of the redemption
price to the holders of the trust's securities as at the latest
practicable date.
As of the date hereof, no Group Policies/Certificates have been offered
for sale.
PURCHASE AND SALE OF INTERESTS IN UNDERLYING SECURITIES FROM AND
TO SECURITY HOLDERS
47. Furnish a statement as to the procedure with respect to the maintenance
of a position in the underlying securities or interests in the underlying
securities, the extent and nature thereof and the person who maintains
such a position. Include a description of the procedure with respect to
the purchase of underlying securities or interests in the underlying
securities from security holders who exercise redemption or withdrawal
rights and the sale of such underlying securities and interests in the
underlying securities to other security holders. State whether the method
of valuation of such underlying securities or interest in underlying
securities differs from that set forth in Items 44 and 46. If any item of
expenditure included in the determination of the valuation is not or may
not actually be incurred or expended, explain the nature of such item
and who may benefit from the transaction.
No person maintains a position in the underlying securities held in the
Separate Account. Any of the Fund shares tendered for redemption will be
redeemed at their per share net asset value. Reference is made to Item 46
for a description of the redemption procedure. Redeemed Fund shares are
cancelled and may not be reissued. The method of valuation of such
underlying securities does not differ from that set forth in Items 44
and 46.
V. INFORMATION CONCERNING THE TRUSTEE OR CUSTODIAN
48. Furnish the following information as to each trustee or custodian of the
trust:
(a) Name and principal business address.
ITT Hartford will perform all functions normally performed by a
custodian. Its address is:
ITT Hartford Life and Annuity Insurance Company
P.O. Box 2999
Hartford, Connecticut 06104
(b) Form of organization.
ITT Hartford is a corporation.
(c) State or other sovereign power under the laws of which the trustee or
custodian was organized.
-31-
<PAGE>
ITT Hartford Life and Annuity Insurance Company was incorporated under
the laws of Wisconsin.
(d) Name of governmental supervising or examining authority.
ITT Hartford as an insurance company is subject to regulation by the
Wisconsin Insurance Department.
49. State the basis for payment of fees or expenses of the trustee or
custodian for services rendered with respect to the trust and its
securities, and the aggregate amount thereof for the last fiscal year.
Indicate the person paying such fees or expenses. If any fees or expenses
are prepaid, state the unearned amounts.
Not Applicable.
50. State whether the trustee or custodian or any other person has or may
create a lien on the assets of the trust, and if so, give full particulars
outlining the substance of the provisions of any indenture or agreement
with respect thereto.
Neither ITT Hartford nor any other person may create a lien on the assets
of the registrant Separate Account.
VI. INFORMATION CONCERNING INSURANCE OF HOLDERS OF SECURITIES
51. Furnish the following information with respect to insurance of holders
of securities:
(a) The name and address of the insurance company.
ITT Hartford Life and Annuity Insurance Company
P.O. Box 2999
Hartford, CT 06104
(b) The types of policies and whether individual or group policies.
The Policies are flexible premium variable life insurance policies and
are issued on a group basis to Participating Employers. Individual
certificates are issued to eligible employees of the Participating
Employers.
(c) The types of risks insured and excluded.
No other benefits are provided through the Separate Account. A death
benefit is payable to the beneficiary upon the death of the insured
person. There are no exclusions.
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(d) The coverage of policies.
See paragraph (c) of this item.
(e) The beneficiaries of such policies and the uses to which the proceeds
of policies must be put.
The recipient of the benefits of the insurance undertakings described
in Item 51(c) is the Beneficiary. There is no limitation on the use
of the proceeds.
(f) The terms and manner of cancellation and of reinstatement.
The insurance undertakings described in Item 51(c) are integral parts
of the Policy and may not be terminated while the Policy remains in
effect.
(g) The method of determining the amount of premiums to be paid by
holders of securities.
See Item 13(a) for the information on the amount and method of assessing
the charges for the insurance undertakings described in Item 51(b).
(h) The amount of aggregate premiums paid to the insurance company
during the last fiscal year.
Not Applicable.
(i) Whether any person other than the insurance company receives any part
of such premiums, the name of each person and the amount involved, and
the nature of the services rendered therefor.
No person other than ITT Hartford receives the amounts deducted for:
(1) cost of insurance; (2) administration and other expenses; (3)
state premium tax and federal taxes; and (4) mortality and expense
risks.
ITT Hartford may reinsure all or a portion of the risk and would pay a
reinsurance premium for such reinsurance.
(j) The substance of any other material provisions of any indenture or
agreement of the trust relating to insurance.
Not Applicable.
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VII. POLICY OF REGISTRANT
52. (a) Furnish the substance of the provisions of any indenture or
agreement with respect to the conditions upon which and the
method of selection by which particular portfolio securities
must or may be eliminated from the assets of the trust or must
or may be replaced by other portfolio securities. If an investment
adviser or other person is to be employed in connection with such
selection,elimination or substitution, state the name of such person,
the nature of any affiliation to the depositor, trustee or custodian,
and any principal underwriter, and the amount of remuneration to be
received for such services. If any particular person is not designated
in the indenture or agreement, describe briefly the method of selection
of such person.
ITT Hartford may not substitute another security for the underlying
securities of the trust without notice to and consent by Owners and
unless the Securities and Exchange Commission shall have approved such
substitution.
(b) Furnish information with respect to each transaction involving the
elimination of any underlying security during the period covered by
the financial statements filed herewith.
Not Applicable.
(c) Describe the policy of the trust with respect to the substitution and
elimination of the underlying securities of the trust with respect to:
(1) the grounds for elimination and substitution;
Shares of another Fund may be substituted for those of any of the
current Funds if shares of any of these Funds are no longer
available for investment, or if, in the judgment of ITT Hartford's
management, further investment in shares of any Fund should become
inappropriate in view of the purposes of the Policies.
(2) the type of securities which may be substituted for any
underlying security;
Shares of another Fund.
(3) whether the acquisition of such substituted security or
securities would constitute the concentration of investment
in a particular industry or group of industries or would
conform to a policy of concentration of investment in a
particular industry or group of industries;
The method of substitution, as described in 52(a), would not result
in the concentration of investment in a particular industry or
group of industries or would conform to such a policy.
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(4) whether such substituted securities may be the securities of
another investment company; and See Item 52(a)
(5) The substance of the provisions of any indenture or agreement
which authorize or restrict the policy of the registrant in
this regard.
See Item 52(a).
(d) Furnish a description of any policy (exclusive of policies covered
by paragraphs (a) and (b) herein) of the trust which is deemed a matter
of fundamental policy and which is elected to be treated as such:
None.
REGULATED INVESTMENT COMPANY
53. (a) State the taxable status of the trust.
ITT Hartford is taxed as a life insurance company under the Code.
Since the Separate Account is not a separate entity from ITT Hartford
and its operations form a part of ITT Hartford, it will not be taxed
separately as a "regulated investment company" under Sub-chapter M
of the Code.
(b) State whether the trust qualified for the last taxable year as a
regulated investment company as defined in Section 851 of the Internal
Revenue Code of 1954, and state its present intention with respect to
such qualification during the current taxable year.
Not Applicable.
VIII. FINANCIAL AND STATISTICAL INFORMATION
54. If the trust is not the issuer of periodic payment plan certificates, a
transcript of a hypothetical account shall be filed in approximately the
following form on the basis of the certificate calling for the smallest
amount of payments. The schedule shall cover a certificate of the type
currently being sold assuming that such certificate had been sold at a
date approximately ten years prior to the date of registration or at the
approximate date of organization of the trust.
Not Applicable.
55. If the trust is the issuer of periodic payment plan certificates, a
transcript of a hypothetical account shall be filed in approximately the
following form on the basis of the certificate calling for the smallest
amount of payments. The schedule shall cover a certificate of the
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type currently being sold assuming that such certificate of the type
currently being sold at a date approximately ten years prior to the date of
registration or at the approximate date of organization of the trust.
Not Applicable.
56. If the trust is the issuer of the periodic payment plan certificates,
furnish by years for the period covered by the financial statements
filed herewith in respect of certificates sold during such period,
the following information for each fully paid type and each installment
payment type of periodic payment plan certificate currently issued by the
trust.
Not Applicable.
57. If the trust is the issuer of periodic payment certificates, furnish by
years for the period covered by the financial statements filed herewith
the following information for each installment payment type of periodic
payment plan certificate currently being issued by the trust.
Not Applicable.
58. If the trust is the issuer of periodic payment plan certificates,
furnish the following information for each installment payment type of
periodic payment plan certificates outstanding as at the latest
practicable date.
Not Applicable.
59. Financial Statements:
FINANCIAL STATEMENTS OF THE TRUST
No financial statements are filed for the trust. It has not yet commenced
operations, has no assets or liabilities and has received no income nor
incurred any expense. Financial statements will be included in an Amended
Registration Statement listed on Form S-6 filed by the registrant pursuant
to the Securities Act of 1933.
FINANCIAL STATEMENT OF THE DEPOSITOR
The financial statements of ITT Hartford will be included in an Amended
Registration Statement on Form S-6 filed by the registrant pursuant to the
Securities Act of 1933.
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INDEX TO EXHIBITS
A. (1) through A(11) hereby incorporated by reference to Form S-6 filed with
the Commission on October , 1995.
B. (1) Not Applicable
(2) Not Applicable
C. Not Applicable
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SIGNATURE
Pursuant to the requirements of the Investment Company Act of 1940, the Sponsor
of the Registrant has caused this Registration Statement to be duly signed on
behalf of the Registrant in the City of Simsbury and State of Connecticut on the
day of October, 1995.
(Seal) ITT Hartford Life and Annuity Insurance
Company - ICMG Registered Variable Life
Separate Account One
(Registrant)
ITT Hartford Life and Annuity Insurance
Company
(Sponsor/Depositor)
Attest: /s/ SCOTT K. RICHARDSON By: /s/ BRUCE D. GARDNER
---------------------------- ---------------------------
Scott K. Richardson Bruce D. Gardner
Attorney General Counsel
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