(a) This article is applicable only to policies and contracts issued on or after the operative date as to such policies or contracts of this article.
(b) The term “operative date of the valuation manual” means the January 1 of the first calendar year that the valuation manual, as defined in Section 10489.1, is effective.
(Amended by Stats. 2015, Ch. 658, Sec. 1. (SB 696) Effective January 1, 2016.)