§2484.__Compacting states, effective date and amendment --

Article 13

1.__Any state eligible to become compacting state.__Any state is eligible to become a compacting state.

2.__Effective dates for compact and commission.__The compact becomes effective and binding upon legislative enactment by 2 compacting states.__The commission becomes effective for purposes of adopting uniform standards for, reviewing and giving approval or disapproval of products filed with the commission only after 26 states are compacting states or, alternatively, after states representing more than 40% of the premium volume for life insurance, annuity, disability income and long-term care insurance products, based on records of the National Association of Insurance Commissioners for the prior year, are compacting states.__Thereafter, it becomes effective and binding as to any other compacting state upon enactment of the compact into law by that state.

3.__Amendments to the compact.__Amendments to the compact may be proposed by the commission for enactment by the compacting states.__An amendment does not become effective and binding upon the commission and the compacting states unless and until all compacting states enact the amendment into law.

§2485.__Withdrawal, default and termination -- Article 14

1.__Withdrawal.__The following provisions govern withdrawal from the compact.

A.__Once effective, the compact continues in force and remains binding upon each compacting state.__A compacting state may withdraw from the compact by enacting a statute specifically repealing the statute that enacted the compact.

B.__The effective date of withdrawal is the effective date of the repealing law.__However, the withdrawal does not apply to any product filings approved or self-certified, or any advertisement of such products, on the date the repealing statute becomes effective, except by mutual agreement of the commission and the withdrawing state unless the approval is rescinded by the withdrawing state as provided in paragraph E.