20.1 These Rules, Rates and Regulations shall become effective November 1, 1986. All credit life and credit disability insurance rates and forms, delivered or issued for delivery on and after the effective date hereof, except as hereinafter provided, shall conform to the provisions of these Regulations as of that date. With regard to existing group credit life and disability insurance policies, the rates and forms shall be amended to conform to the requirement of these Regulations, or be terminated not later than the anniversary of the date of issue of the contract next following the effective date of these Regulations. Existing group credit life and disability insurance contracts that are renewed, reissued or replaced other than on their normal anniversary date of issue and all group credit life and disability insurance contracts newly issued to replace or supplement a creditor's existing insurance program on or after November 1, 1986 shall conform to the requirements of these Regulations on or after the effective date hereof. No replacement or amendment of group policies to postpone the effect of these Regulations will be recognized for the purpose of this Section. All policy forms and rate schedules prepared to conform with these Regulations should be filed for approval prior to October 1, 1986 in order to assure approval prior to the said effective date.

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Robert M. Eubanks III

Insurance Commissioner