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(1) As used in this section:
(a) "Death master file" means:
(i) the United States Social Security Administration death master file; or
(ii) another database or service that is at least as comprehensive as the United States Social Security Administration death master file for determining that an individual has reportedly died.
(b) "Special administrator" means the same as that term is defined in Section 75-1-201.
(2) With respect to a life or endowment insurance policy or annuity contract for which an amount is owed on proof of death, but which has not matured by proof of death of the insured or annuitant, the company is deemed to have knowledge of the death of an insured or annuitant when:
(a) the company receives a death certificate or court order determining that the insured or annuitant has died;
(b) due diligence, performed as required under Section 31A-22-1903, to maintain contact with the insured or annuitant to determine whether the insured or annuitant has died validates the death of the insured or annuitant;
(c) the company conducts a comparison for any purpose between a death master file and the names of some of the company's insureds or annuitants and finds a match that provides notice that the insured or annuitant has died, and the company validates the death; or
(d) the company:
(i) receives notice of the death of the insured or annuitant from a special administrator, beneficiary, policy owner, relative of the insured, or trustee or from a personal representative, executor, or other legal representative of the insured's or annuitant's estate; and
(ii) validates the death of the insured or annuitant.
(3) A death master file match under Subsection (2)(c) occurs if the criteria for an exact or partial match are satisfied as provided by:
(a) a law of this state other than this chapter, including Section 31A-22-1903; or
(b) a rule or policy adopted by the Insurance Department.
(4) A death master file match does not constitute proof of death for the purpose of a beneficiary, annuitant, or owner of an insurance policy or annuitant contract submitting a claim to an insurance company.
(5) The death master file match or validation of the insured's or annuitant's death does not alter the requirements for a beneficiary, annuitant, or owner of the policy or contract to make a claim to receive proceeds under the terms of the policy or contract.
(6) If a provision in Section 31A-22-1903 does not establish a time for validation of a death of an insured or annuitant, the insurance company shall make a good faith effort using other available records and information, no later than 90 days after the insurance company has notice of the death, to:
(a) validate the death; and
(b) document the effort taken.
(7) This section does not affect the determination of the extent to which an insurance company, before May 14, 2019:
(a) had knowledge of the death of an insured or annuitant; or
(b) was required to conduct a death master file comparison to determine whether amounts owed by the company on a life or endowment insurance policy or annuity contract were presumed or abandoned.