Sec. 44.2. Scope of regulation

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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.

                    
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