Page:United States Statutes at Large Volume 110 Part 3.djvu/333

 PUBLIC LAW 104-191—AUG. 21, 1996 110 STAT. 2063 (2) Paragraph (2) of section 6724(d) is amended by redesignating subparagraphs (Q) through (T) as subparagraphs (R) through (U), respectively, and by inserting after subparagraph (P) the following new subparagraph: "(Q) section 6050Q(b) (relating to certain long-term care benefits),". (c) CLERICAL AMENDMENT. —The table of sections for subpart B of part III of subchapter A of chapter 61 is amended by adding at the end the following new item: "Sec. 6050Q. Certain long-term care benefits.". (d) EFFECTIVE DATE.—The amendments made by this section 26 USC 6050Q shall apply to benefits paid after December 31, 1996. ^°^- PART II—CONSUMER PROTECTION PROVISIONS SEC. 325. POLICY REQUIREMENTS. Section 7702B (as added by section 321) is amended by adding at the end the following new subsection: "(g) CONSUMER PROTECTION PROVISIONS.— "(1) IN GENERAL. —The requirements of this subsection are met with respect to any contract if the contract meets— "(A) the requirements of the model regulation and model Act described in paragraph (2), "(B) the disclosure requirement of paragraph (3), and "(C) the requirements relating to nonforfeitability under paragraph (4). "(2) REQUIREMENTS OF MODEL REGULATION AND ACT.— "(A) IN GENERAL.—The requirements of this paragraph are met with respect to any contract if such contract meets— " (i) MODEL REGULATION. —The following requirements of the model regulation: "(I) Section 7A (relating to guaranteed renewal or noncancellability), and the requirements of section 6B of the model Act relating to such section 7A. "(II) Section 7B (relating to prohibitions on limitations and exclusions). "(Ill) Section 7C (relating to extension of benefits). "(IV) Section 7D (relating to continuation or conversion of coverage). "(V) Section 7E (relating to discontinuance and replacement of policies). "(VI) Section 8 (relating to unintentional lapse). "(VII) Section 9 (relating to disclosure), other than section 9F thereof. " (VIII) Section 10 (relating to prohibitions against post-claims underwriting). "(IX) Section 11 (relating to minimum standards). "(X) Section 12 (relating to requirement to offer inflation protection), except that any requirement for a signature on a rejection of inflation

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