The Committee on Banking and Insurance proposes the following amendment (LC-857.WAB0001S):

Amend the bill, as and if amended, SECTION 2, by striking Section 38-69-220(B) and inserting:

 (B) Sections 38-69-230 through 38-69-280 do not apply to contingent deferred annuities. Notwithstanding this exemption, the department may promulgate regulations for establish by order or regulation nonforfeiture benefits for contingent deferred annuities that are, in the opinion of the director, equitable to the contract holder, appropriate given the risks insured, and to the extent possible, consistent with general intent of this article.

Renumber sections to conform.

Amend title to conform.