§ 4528. New business limitations. Every authorized society shall limit
the issuance of new life insurance certificates and new annuity
contracts in accordance with requirements for new life insurance
policies and new annuity contracts under section four thousand two
hundred twenty-seven of this chapter, except that:

(a) No such limitations shall apply to new life insurance certificates
or new annuity contracts issued by the society before January first,
nineteen hundred ninety-eight; and

(b) Limitations equal to one hundred fifty percent of the limitations
established in section four thousand two hundred twenty-seven of this
chapter shall apply to new life insurance certificates and new annuity
contracts issued by the society after January first, nineteen hundred
ninety-eight but before January first, two thousand; and

(c) The limitations established in section four thousand two hundred
twenty-seven of this chapter shall fully apply to all new life insurance
certificates and all new annuity contracts issued by the society on or
after January first, two thousand.