AN ACT to disapprove the administrative rules governing life insurance replacement.

The General Assembly of North Carolina enacts:

SECTION 1.  Pursuant to G.S. 150B‑21.3(b), the following Life Insurance Replacement Rules that were adopted by the Department of Insurance and approved by the Rules Review Commission on December 19, 2002, are disapproved:
(1)	11 NCAC 12.0601 – Purpose and Scope.
(2)	11 NCAC 12.0602 – Definition of Replacement.
(3)	11 NCAC 12.0603 – Other Definitions.
(4)	11 NCAC 12.0604 – Exemptions.
(5)	11 NCAC 12.0605 – Duties of Producers.
(6)	11 NCAC 12.0606 – Duties of Existing Insurer.
(7)	11 NCAC 12.0607 – Duties of Insurers That Use Producers.
(8)	11	NCAC 12.0608 – Duties of Insurers With Respect to Direct Response Sales.
(9)	11 NCAC 12.0609 – Violations and Penalties.
(10)	11 NCAC 12.0611 – Notice Regarding Replacement.
(11)	11 NCAC 12.0612 – Duties of Replacing Insurers That Use Producers.
SECTION 2.  This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 29th day of May, 2003.

	s/	 Beverly E. Perdue
	 President of the Senate

	s/	 Richard T. Morgan
	 Speaker of the House of Representatives

	s/	 Michael F. Easley
	 Governor

Approved 11:34 p.m. this 4th day of June, 2003