Allocated Group Annuity Contracts Not Subject to Section ...
Section 4238 was not modernized to permit Discretionary Groups like those permitted for group life insurance in §4216(b)(14) and for group accident and health insurance in §4235(c)(1)(M). As such, groups that fail to satisfy the definitional requirements in §4238(b) of the Insurance Law are not recognized groups under the Insurance Law. ................
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