Record Adopted Standard

§ 101. Purpose.

Pursuant to Article III of the Bylaws of the Interstate Insurance Product Regulation Commission,
this rule ("Rule") establishes procedures for a Conforming Amendment to a Uniform Standard.

§ 102. Definitions.
(a) Except as specifically defined herein, the terms as defined in Article II of the Compact
shall have the same meaning in this Rule as if such definitions were set forth fully herein.

(b) "Commission" means the Interstate Insurance Product Regulation Commission.

(c) “Compact” means the Model Interstate Insurance Product Regulation Compact enacted in
each of the Compacting States.

(d) "Conforming Amendment" means:

(i) an amendment (including a change, deletion or addition) to one or more product
requirements in an Existing Uniform Standard;
(ii) where the substantive provisions of the amendment are included in a Reference
Uniform Standard; and
(ii) where the amendment will have the same substantive effect on the application of
the Existing Uniform Standard as it does on the application of the Reference
Uniform Standard.

(e) "Existing Uniform Standard" means a Uniform Standard that has been adopted by the
Commission as of the time a Conforming Amendment is proposed pursuant to this Rule.

(f) "Reference Uniform Standard" means a Uniform Standard that has been adopted pursuant
to the Rulemaking Rule, other than pursuant to Section 108 of the Rulemaking Rule, with
the substantive provisions of a Conforming Amendment.

(g) "Rulemaking Rule" means the Rule for Adoption, Amendment and Repeal of Rules for
the Interstate Insurance Product Regulation Commission, as amended from time to time.

§ 103. General Rule for Amendments.

Except as specifically provided in this Rule, the Rulemaking Rule shall apply to any amendment
of a Uniform Standard.¹

¹Section 108 of the Rulemaking Rule allows for adoption of temporary, emergency rules.

§ 104. Procedure

(a) The Product Standards Committee shall submit any proposal for a Conforming
Amendment to the Management Committee.

(b) The proposal for a Conforming Amendment shall be in writing, and shall:

(i) identify each Existing Uniform Standard to be amended and the specific product
requirements in each Existing Uniform Standard that are the subject of the
amendment;
(ii) identify the Reference Uniform Standard and the specific product requirements of
the Reference Uniform Standard that incorporate the proposed Conforming
Amendment;
(iii) include all proposed amendments to the Existing Uniform Standard(s) in redline
and strikeout format; and
(iv) include an analysis of the substantive effect of the proposed Conforming
Amendment as incorporated in the Reference Uniform Standard, and an analysis
demonstrating that the Conforming Amendment would have the same substantive
effect as applied to the Existing Product Standard(s).

(c) The Executive Director shall provide written notice of a proposed Conforming
Amendment, which shall include the written proposal described in Section 104(b), to the
Legislative Committee, the Consumer Advisory Committee, the Industry Advisory
Committee, and to the relevant state legislative committees in each compacting state
responsible for insurance issues. The Executive Director also shall post the written notice
on the Commission's website.

(d) The Management Committee shall consider and vote on approval of the proposed
Conforming Amendment at its next regular or special meeting after receipt of the
proposal for the Conforming Amendment, where such consideration and vote may be
included timely in the agenda for such meeting. A Conforming Amendment shall be
approved only upon a vote of at least 2/3 of the members of the Management Committee
present at the meeting.

(e) If the Management Committee approves a Conforming Amendment, the Executive
Director shall notify each member of the Commission in writing within seven (7) days of
such approval. The notice shall include the information included in the form of notice
described in Section 104(c).

(f) During the period of fifteen (15) days from the date the notice is sent to the Commission
members, any member of the Commission may call for consideration and a vote on
adoption of the Conforming Amendment at a meeting of the entire Commission, which
meeting shall be held in accordance with the terms of the Bylaws. A vote of at least 2/3
of the members of the Commission present at the meeting shall be required for adoption
of the Conforming Amendment. If the Commission votes to adopt a Conforming
Amendment, the Existing Uniform Standard shall be amended by the Conforming
Amendment and shall be effective as amended as of the date of the vote approving
adoption. If the Commission disapproves adoption of the Conforming Amendment, the
Existing Uniform Standard shall not be amended by the Conforming Amendment.

(g) If no member of the Commission requests consideration and a vote on adoption pursuant
to Section 104(f), the Existing Uniform Standard shall be amended by the Conforming
Amendment and shall be effective as amended as of the end of the fifteen-day period
described in Section 104(f).

§ 105. Adoption; Effective Date.

This Rule was adopted by the Commission on September 28, 2007, pursuant to the procedures
set forth in the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate
Insurance Product Regulation Commission. This Rule is effective on November 12, 2007.