AMENDMENT(S) PROPOSED BY THE SENATE

SEN. STOSCH

1. Line 35, introduced, after line 34

insert

2.  The provisions of this act shall not apply to policies or contracts of life insurance where:  (i) a charitable organization headquartered in Virginia executed a nondisclosure and exclusivity agreement prior to December 31, 2004, (ii) such charitable organization was the holder of a Charity Certificate issued by a business trust prior to December 31, 2004, and (iii) the policies or contracts are written pursuant to such agreement on the lives of individuals who, prior to December 31, 2004, were donors to such charitable organization, or an organization under common control with such organization.