After August 1, 1979, any company may file with the commissioner a written notice of its election to comply with the provisions of this chapter after a specified date before August 1, 1981. After filing of such notice, then upon such specified date, which shall be the operative date of this chapter for such company, this chapter shall become operative with respect to annuity contracts thereafter issued by such company. If a company makes no such election, the operative date of this chapter for such company shall be August 1, 1981.
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