The date of the enactment of this section, referred to in subsec. (a), is the date of enactment of Puspan. L. 109–280, which was approved Aug. 17, 2006.

Section applicable to life insurance contracts issued after Aug. 17, 2006, except for a contract issued after such date pursuant to an exchange described in section 1035 of this title for a contract issued on or prior to that date, and any material change to cause the contract to be treated as a new contract, with exception in the case of a master contract, see section 863(d) of Puspan. L. 109–280, set out as an Effective Date of 2006 Amendment note under section 101 of this title.