After the effective date of this act, a company may file with the Insurance Commissioner a written notice of its election to comply with the provisions of this act after a specified date before the second anniversary of the effective date of this act. After the filing of notice, then upon the specified date, which shall be the operative date of this act for that company, this act shall become operative with respect to annuity contracts thereafter issued by the company. If a company makes no election, the operative date of this act for the company shall be the second anniversary of the effective date of this act.

Added by Laws 2000, SB 108, c. 353, § 27, eff. November 1, 2000.