N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 50-1.0
Current through Register Vol. 46, No. 51, December 18, 2024
(a) Subpart 50-1 shall apply to all separate account contracts, as defined in section 50-2.3 (a)(6) of Subpart 50-2 of this Part, delivered or issued for delivery in this State prior to January 1, 2023 except as provided in Parts 40, 44, and 97 of this Title (Insurance Regulations 139, 127, and 128) and only with respect to amounts allocated to one or more separate accounts, whether the separate accounts are established pursuant to Insurance Law section 4240 or otherwise. Notwithstanding the forgoing, the maximum surrender charge authorized in section 50-1.7(a)(3) shall apply to separate account contracts delivered or issued for delivery in this State prior to January 1, 2024.(b) Subpart 50-1 shall apply to all separate accounts established pursuant to Insurance Law section 4240 prior to January 1, 2023 that are used solely in connection with separate account contracts delivered or issued for delivery prior to January 1, 2023.(c) Subpart 50-1 shall apply to all separate account plans of operation required to be filed in this State for separate accounts that are used solely in connection with separate account contracts delivered or issued for delivery prior to January 1, 2023.(d) Section 50-1.10 shall apply to all separate accounts of any authorized foreign insurer or United States branch of any alien insurer used solely in connection with separate account contracts delivered or issued for delivery prior to January 1, 2023.N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 50-1.0
Adopted New York State Register August 31, 2022/Volume XLIV, Issue 35, eff. 8/31/2022