New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter III - Policy and Certificate Provisions
Subchapter A - Life, Accident and Health Insurance
Part 44 - Individual Deferred Annuities, Market-value Adjustments Withdrawal Charges, Availability Of Cash Values
Section 44.2 - Scope of regulation

This Part governs any market-value adjustment formula that is applied to the actual accumulation amount under a contract or a group annuity certificate subject to section 4223 of the Insurance Law before taking into account any withdrawal charge in accordance with the provisions of section 4223. It also applies to any market-value or other adjustment of the actual accumulation amount taken as a form of withdrawal charge and limited to an amount not exceeding the maximum withdrawal charge permitted by section 4223.