### Question
How does DOMESTIC SECURITIES define separate account?


### Answer
Under *15 U.S.C. § 77b*, **separate account** is defined as:

> an account established and maintained by an insurance company pursuant to the laws of any State or territory of the United States, the District of Columbia, or of Canada or any province thereof, under which income, gains and losses, whether or not realized, from assets allocated to such account, are, in accordance with the applicable contract, credited to or charged against such account without regard to other income, gains, or losses of the insurance company

#### Citation:
  - *15 U.S.C. § 77b*
  - Heading: **CHAPTER 2A-SECURITIES AND TRUST INDENTURES > SUBCHAPTER I-DOMESTIC SECURITIES**

