New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IV - Financial Condition Of Insurer and Reports to Superintendent
Subchapter B - Life Insurers
Part 97 - MARKET VALUE SEPARATE ACCOUNTS FUNDING GUARANTEED BENEFITS; SEPARATE ACCOUNTS OPERATIONS AND RESERVE REQUIREMENTS
Section 97.8 - Reserve valuation

(1) the total of the market-value of separate account assets plus the general account assets required to be maintained on the valuation date under section 97.5(b) and (c) of this Part; and

(2) the excess, if any, of the market-value of separate account assets (to the extent that the market value of such assets determines the contractholder's benefits, i.e., to the extent such assets are beneficially client assets) over the amount determined in accordance with paragraph (1) of this subdivision; and

(3) any additional amount determined by the insurer's qualified actuary as necessary to make good and sufficient provision for all of the contract liabilities; and

(4) any additional amount determined as necessary by the superintendent due to the nature of the benefits.

(1) allocating sufficient assets to the separate account or a supplemental account to satisfy such requirement; or

(2) setting up the additional reserves in the general account.