Common use of SUSPENSION OR DEFERRAL OF PAYMENTS OR TRANSFERS Clause in Contracts

SUSPENSION OR DEFERRAL OF PAYMENTS OR TRANSFERS. FROM THE DCA FIXED ACCOUNT LNY reserves the right to defer payment for a withdrawal, surrender or transfer from the DCA Fixed Account for the period permitted by law but for not more than six (6) months after Notice is received by LNY. If any payment is deferred by more than 10 working days, interest will be paid as required by New York Insurance Law using an interest rate no less than the interest rate currently paid under the interest settlement option.