Common use of TRANSFERS BETWEEN RELATED CONTRACTS Clause in Contracts

TRANSFERS BETWEEN RELATED CONTRACTS. The Contract-Holder may transfer, pursuant to the Plan, an amount from one of the Participant's Accounts to another Account maintained for him under this contract or to an Account maintained for him under a companion contract. The minimum withdrawal to provide a transfer is $500 from any single Account, or the dollar value of that Account if smaller. The transfer will normally be made within seven days of Prudential's receipt of a duly completed request for it. Section 3.1 does not apply to a withdrawal for this purpose. Transfers are deemed to be made first from the contributions paid for the Participant. Investment income is transferred when there are no longer any contributions in the Account from which the transfer is made. Amounts may be transferred to this contract from a companion contract and will be added to one or more Subaccounts pursuant to the terms of the Plan. An amount transferred to this contract for a Participant will be treated as though it were a contribution made for him (see section 1.2). However, in determining any withdrawal charge, any portion of the amount transferred which is investment income will not be considered as a contribution. Prudential may, upon notice to the Contract-Holder, limit the frequency of transfers. This action will take effect on the date of the notice. This section may be changed as provided in section 5.1.

Appears in 4 contracts

Samples: Prudential Variable Contract Account 24, Prudential Variable Contract Account 24, Prudential Variable Contract Account 24

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TRANSFERS BETWEEN RELATED CONTRACTS. The Contract-Holder A Participant may transfer, pursuant to the Plan, transfer an amount from one or more of the his Participant's Accounts to another Account maintained for him under this contract or to an Account maintained for him under a companion contractcontract but only under the conditions permitted by the Plan, if any. The minimum withdrawal to provide a transfer is $500 from any single Account, or the dollar value of that the Account if smaller. The transfer will normally be made within seven days of Prudential's receipt of a duly completed request for it. Section 3.1 does not apply to a withdrawal for this purpose. Transfers are deemed to be made first from the contributions paid for the Participant. Investment income is transferred when there are no longer any contributions in the Account from which the transfer is made. Amounts may be transferred to this contract from a companion contract and will be added to one or more Subaccounts pursuant to as directed by the terms of the PlanParticipant. An amount transferred to this contract for a Participant will be treated as though it were a contribution made for him (see section 1.2). However, in determining any withdrawal charge, any portion part of the amount transferred which is investment income will not be considered as a contribution. Prudential may, upon notice to the Contract-HolderHolder and Participants, limit the frequency of transfers. This action will take effect on the date of the notice. This section may be changed as provided in section 5.1.. GVA-120-87 (24) (as modified by Group Annuity Amendment Form GAA-7764) Serial 330 3.2-3.3

Appears in 2 contracts

Samples: Prudential Variable Contract Account 24, Prudential Variable Contract Account 24

TRANSFERS BETWEEN RELATED CONTRACTS. The Contract-Holder A Participant may transfer, pursuant to the Plan, transfer an amount from one or more of the his Participant's Accounts to another Account maintained for him under this contract or to an Account maintained for him under a companion contractcontract but only under the conditions permitted by the Plan, if any. The minimum withdrawal to provide a transfer is $500 from any single Account, or the dollar value of that the Account if smaller. The transfer will normally be made within seven days of Prudential's receipt of a duly completed request for it. Section 3.1 does not apply to a withdrawal for this purpose. Transfers are deemed to be made first from the contributions paid for the Participant. Investment income is transferred when there are no longer any contributions in the Account from which the transfer is made. GVA-120-87 (24) Serial 310 3.3 Amounts may be transferred to this contract from a companion contract and will be added to one or more Subaccounts pursuant to as directed by the terms of the PlanParticipant. An amount transferred to this contract for a Participant will be treated as though it were a contribution made for him (see section 1.2). However, in determining any withdrawal charge, any portion part of the amount transferred which is investment income will not be considered as a contribution. Prudential may, upon notice to the Contract-HolderHolder and Participants, limit the frequency of transfers. This action will take effect on the date of the notice. This section may be changed as provided in section 5.1.

Appears in 1 contract

Samples: Prudential Variable Contract Account 24

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TRANSFERS BETWEEN RELATED CONTRACTS. The Contract-Holder A Participant may transfer, pursuant to the Plan, transfer an amount from one or more of the his Participant's Accounts to another Account maintained for him under this contract or to an Account maintained for him under a companion contractcontract but only under the conditions permitted by the Plan, if any. The minimum withdrawal to provide a transfer is $500 from any single Account, or the dollar value of that the Account if smaller. The transfer will normally be made within seven days of Prudential's receipt of a duly completed his request for it. Section 3.1 does not apply to a withdrawal for this purpose. Transfers are deemed to be made first from the contributions paid for the Participant. Investment income is transferred when there are no longer any contributions in the Account from which the transfer is made. GVA-120-87 (24) Serial 310 3.3 Amounts may be transferred to this contract from a companion contract and will be added to one or more Subaccounts pursuant to as directed by the terms of the PlanParticipant. An amount transferred to this contract for a Participant will be treated as though it were a contribution made for him (see section 1.2). However, However in determining any withdrawal charge, any portion part of the amount transferred which is investment income will not be considered as a contribution. Prudential may, upon notice to the Contract-HolderHolder and Participants, limit the frequency of transfers. This action will take effect on the date of the notice. This section may be changed as provided in section 5.1.

Appears in 1 contract

Samples: Prudential Variable Contract Account 24

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