§ 4528 — New business limitations

New York § 4528

• Jurisdiction: New York
• Law ISC: Insurance
• Art. 45: Fraternal Benefit Societies

Text

§ 4528. New business limitations. Every authorized society shall limit\nthe issuance of new life insurance certificates and new annuity\ncontracts in accordance with requirements for new life insurance\npolicies and new annuity contracts under section four thousand two\nhundred twenty-seven of this chapter, except that:\n (a) No such limitations shall apply to new life insurance certificates\nor new annuity contracts issued by the society before January first,\nnineteen hundred ninety-eight; and\n (b) Limitations equal to one hundred fifty percent of the limitations\nestablished in section four thousand two hundred twenty-seven of this\nchapter shall apply to new life insurance certificates and new annuity\ncontracts issued by the society after January first, nineteen hundred\nninety-eight but before January first, two thousand; and\n (c) The limitations established in section four thousand two hundred\ntwenty-seven of this chapter shall fully apply to all new life insurance\ncertificates and all new annuity contracts issued by the society on or\nafter January first, two thousand.\n