Page:United States Statutes at Large Volume 108 Part 5.djvu/955

This page needs to be proofread.


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—