(a) This article applies to an in-force policy, annuity contract, or retained asset account, a policy or annuity contract effective on or after July 1, 2020, and a policy that has lapsed on or after January 1, 2019, if the insurer has not engaged in asymmetric conduct.
(b) This article applies to a policy, annuity contract, or retained asset account described in subdivision (a) if one of the following applies:
(1) The insurer is domiciled in this state.
(2) The policy, annuity contract, or retained asset account was issued or delivered in this state.
(Added by Stats. 2019, Ch. 286, Sec. 1. (SB 740) Effective January 1, 2020.)