Premium deposit fund provisions shall not be included in or attached to life insurance contracts issued in this state unless:

1. (a) The provisions allow withdrawal of all or any part of the fund at the request of the policy owner; and
2. (b) the withdrawal may be effected not later than the next succeeding policy anniversary date.

(Authorized by K.S.A. 40-103; implementing K.S.A. 40-401; effective Jan. 1, 1966; amended May 1, 1986; amended May 1, 1987.)