Notwithstanding the provisions of P.L. 1940, c.74 (C.17:48A-1 et seq.) to the contrary, no individual or group contract shall be delivered, issued, executed or renewed on or after the effective date of P.L. 2000, c. 121(C.26:2S-10.1 et al.) unless the contract meets the requirements of sections 1 and 2 of P.L. 2000, c. 121(C.26:2S-10.1 and C.26:2S-10.2) and the regulations adopted thereto. The provisions of this section shall apply to all contracts in which the medical service corporation has reserved the right to change the premium.
N.J.S. § 17:48A-7v