1. Policies that satisfy the criteria for exemption set forth in Section 2542.5(f) of article 12.3 or Section 2542.5(g) of article 12.3; and which are issued before the later of:

2. Portions of policies that satisfy the criteria for exemption set forth in Section 2542.5(e) of article 12.3 and which are issued before the later of:

3. Any universal life policy that meets all of the following requirements:

4. Credit life insurance.

5. Any variable life insurance policy that provides for life insurance, the amount or duration of which varies according to the investment experience of any separate account or accounts.

6. Any group life insurance certificate unless the certificate provides for a stated or implied schedule of maximum gross premiums required in order to continue coverage in force for a period in excess of one year.

1. Prepares statutory financial statements in compliance with the NAIC Accounting Practices and Procedures Manual, without any departures from NAIC statutory accounting practices and procedures pertaining to the admissibility or valuation of assets or liabilities that increase the assuming insurer's reported surplus and are material enough that they need to be disclosed in the financial statement of the assuming insurer pursuant to Statement of Statutory Accounting Principles No. 1 (“SSAP 1”), and

2. Is not in a Company Action Level Event, Regulatory Action Level Event, Authorized Control Level Event, or Mandatory Control Level Event as those terms are defined in Article 4.1 of Code Sections 739 et seq. when its RBC is calculated in accordance with the life risk-based capital report including overview and instructions for companies, as the same may be amended by the NAIC from time to time, without deviation.

1. Is not an affiliate, as that term is defined in Code Section 1215(a), of:

2. Prepares statutory financial statements in compliance with the NAIC Accounting Practices and Procedures Manual;

3. Is both:

4. Is not, or would not be, below 500% of the Authorized Control Level RBC as that term is defined in Code Sections 739 et seq. when its Risk Based Capital (RBC) is calculated in accordance with the life risk-based capital report including overview and instructions for companies, as the same may be amended by the NAIC from time to time, without deviation, and without recognition of any departures from NAIC statutory accounting practices and procedures pertaining to the admission or valuation of assets or liabilities that increase the assuming insurer's reported surplus.

1. The risks are clearly outside of the intent and purpose of Sections 2303.23 through 2303.28 of this article (as described in Section 2303.23 of this article),

2. The risks are included within the scope of Sections 2303.23 through 2303.28 of this article only as a technicality, and

3. The application of Sections 2303.23 through 2303.28 of this article to those risks is not necessary to provide appropriate protection to policyholders. The commissioner shall post on the Department's public web site a notice of any decision made pursuant to this subdivision to exempt a reinsurance treaty from Sections 2303.23 through 2303.28 of this article, as well as the general basis therefor (including a summary description of the treaty).