(a) Form filing required. A certificate of assumption form will be approved by the Insurance Department prior to issuance to a Pennsylvania policyholder or certificate holder. Insurance Department approval of the form will be in accordance with the following:

1. (1) Section 354 of The Insurance Company Law of 1921 (40 P. S. § 477(b)).
2. (2) Section 401 of the Fraternal Benefit Society Code (40 P. S. § 1141-401).
3. (3) Section 7 of the Model Act for the Regulation of Credit Life Insurance and Credit Accident and Health Insurance (40 P. S. § 1007.7).

(b) Form filing procedures. A filing for approval of a certificate or assumption form shall be made by the assuming insurer and include the following:

1. (1) Two copies of the certificate of assumption being submitted for approval.

2. (2) A duplicate letter of submission, including the following explanations:

   1. (i) The arrangement of the coverage assumption.
   2. (ii) Which parties will be issued the certificate of assumption.