N.Y. Insurance Law § 4528: New business limitations

§ 4528. New business limitations. Every authorized society shall limit

the issuance of new life insurance certificates and new annuity

contracts in accordance with requirements for new life insurance

policies and new annuity contracts under section four thousand two

hundred twenty-seven of this chapter, except that:

(a) No such limitations shall apply to new life insurance certificates

or new annuity contracts issued by the society before January first,

nineteen hundred ninety-eight; and

(b) Limitations equal to one hundred fifty percent of the limitations

established in section four thousand two hundred twenty-seven of this

chapter shall apply to new life insurance certificates and new annuity

contracts issued by the society after January first, nineteen hundred

ninety-eight but before January first, two thousand; and

(c) The limitations established in section four thousand two hundred

twenty-seven of this chapter shall fully apply to all new life insurance

certificates and all new annuity contracts issued by the society on or

after January first, two thousand.