(a) This chapter applies to a policy issued by a company on or after January 1, 1974.
(b) This chapter also applies to a policy issued by a company after a date specified in a written notice:
(1) that was filed by the company with the State Board of Insurance after August 23, 1963, but before January 1, 1974; and
(2) under which the company filing the notice elected to comply before January 1, 1974, with the law codified by this chapter.