11.__Operating procedures.__"Operating procedures" means procedures adopted by the commission implementing a rule, uniform standard or provision of the compact.

12.__Product.__"Product" means the form of a policy or contract, including an application, endorsement or related form that is attached to and made a part of the policy or contract, and any evidence of coverage or certificate, for an individual or group annuity, life insurance, disability income or long-term care insurance product that an insurer is authorized to issue.

13.__Rule.__"Rule" means a statement of general or particular applicability and future effect adopted by the commission, including a uniform standard developed pursuant to section 2478, designed to implement, interpret or prescribe law or policy or describing the organization, procedure or practice requirements of the commission, that has the force and effect of law in the compacting states.

14.__State.__"State" means any state, district or territory of the United States of America.

15.__Third-party filer.__"Third-party filer" means an entity that submits a product filing to the commission on behalf of an insurer.

16.__Uniform standard.__"Uniform standard" means a standard adopted by the commission for a product line, pursuant to section 2478, and includes all of the product requirements in aggregate.__ Each uniform standard must be construed, whether the prohibition is express or implied, to prohibit the use of any inconsistent, misleading or ambiguous provisions in a product and the form of the product made available to the public is not unfair, inequitable or against public policy as determined by the commission.

§2474.__Establishment of commission; venue -- Article 3

1.__Commission created.__The compacting states hereby create and establish a joint public agency known as the Interstate Insurance Product Regulation Commission.__The commission has the power to develop uniform standards for product lines, receive and provide prompt review of products filed and give approval to those product filings satisfying applicable uniform standards.__ It is not intended that the commission be the exclusive entity for receipt and review of insurance product filings in the State.__ This subsection does not prohibit an insurer from filing