PUBLIC LAW 103-432—OCT. 31, 1994
108 STAT. 4445
(iii) by striking "included a reference to the NAIC
standards" and inserting "were a reference to the
revised NAIC Model Regulation as changed under this
subparagraph (such changed regulation referred to in
this section as the '1991 NAIC Model Regulation')";
(B) in paragraph (1)(B)—
(i) by striking "promulgate NAIC standards" and
inserting "make the changes in the revised NAIC Model
Regulation",
(ii) by striking "limitations, language, definitions,
format, and standards described in clauses (i) through
(iv) of such subparagraph (in this subsection referred
to collectively as 'Federal standards')" and inserting
"a regulation", and
(iii) by striking "included a reference to the Federal
standards" and inserting "were a reference to the
revised NAIC Model Regulation as changed by the
^
Secretary under this subparagraph (such changed
regulation referred to in this section as the '1991 Federal Regulation')";
(C) in paragraph (l)(C)(i), by striking "NAIC standards
or the Federal standards" and inserting "1991 NAIC Model
Regulation or 1991 Federal Regulation";
(D) in paragraphs (l)(C)(ii)(I), (1)(E), (2), and (9)(B),
by striking "NAIC or Federal standards" and inserting
"1991 NAIC Model Regulation or 1991 Federal Regulation";
(E) in paragraph (2)(C), by striking "(5)(B)" and inserting "(4)(B)";
(F) in paragraph (4)(A)(i), by inserting "or paragraph
(6)" after "(B)";
(G) in paragraph (4), by striking "applicable standards"
each place it appears and inserting "applicable 1991 NAIC
Model Regulation or 1991 Federal Regulation";
(H) in paragraph (6), by striking "in regard to the
limitation of benefits described in paragraph (4)" and
inserting "described in clauses (i) through (iii) of paragraph
(1)(A)";
(I) in paragraph (7), by striking "policyholder" and
inserting "policyholders";
(J) in paragraph (8), by striking "after the effective
date of the NAIC or Federal standards with respect to
the policy, in violation of the previous requirements of
this subsection" and inserting "on and after the effective
date specified in paragraph (I)(C) (but subject to paragraph
(10)), in violation of the applicable 1991 NAIC Model Regulation or 1991 Federal Regulation insofar as such regulation relates to the requirements of subsection (o) or (q)
or clause (i), (ii), or (iii) of paragraph (1)(A)";
(K) in paragraph (9), by adding at the end the following
new subparagraph:
" (D) Subject to paragraph (10), this paragraph shall apply
to sales of policies occurring on or after the effective date specified
in paragraph (1)(C)."; and
(L) in paragraph (10), by striking "this subsection"
and inserting "paragraph (l)(A)(i)".
(b) GUARANTEED RENEWABILITY.— Section 1882(q) (42 U.S.C.
1395ss(q)) is amended—
�
