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 its product in a state where the insurer is licensed to conduct the business of insurance, and any such filing is subject to the laws of the state where filed.

2.__Body corporate.__The commission is a body corporate and politic and an instrumentality of the compacting states.

3.__Responsible for liabilities.__The commission is solely responsible for its liabilities except as otherwise specifically provided in the compact.

4.__Venue.__Proper and judicial proceedings by or against the commission must be brought solely and exclusively in a court of competent jurisdiction where the principal office of the commission is located.

§2475.__Powers of the commission -- Article 4

The commission has the power:

1.__Promulgate rules.__To promulgate rules, pursuant to section 2478, that have the force of law and are binding in the compacting states to the extent and in the manner provided in the compact;