; . (b) Effective date The amendment made by this section shall apply to transactions entered into after August 25, 2009. 13520. Exception to transfer for valuable consideration rules (a) In general Subsection (a) of section 101 is amended by inserting after paragraph (2) the following new paragraph: (3) Exception to valuable consideration rules for commercial transfers (A) In general The second sentence of paragraph (2) shall not apply in the case of a transfer of a life insurance contract, or any interest therein, which is a reportable policy sale. (B) Reportable policy sale For purposes of this paragraph, the term reportable policy sale means the acquisition of an interest in a life insurance contract, directly or indirectly, if the acquirer has no substantial family, business, or financial relationship with the insured apart from the acquirer's interest in such life insurance contract. For purposes of the preceding sentence, the term indirectly applies to the acquisition of an interest in a partnership, trust, or other entity that holds an interest in the life insurance contract. . (b) Conforming amendment Paragraph (1) of section 101(a) is amended by striking paragraph (2) and inserting paragraphs (2) and (3) . (c) Effective date The amendments made by this section shall apply to transfers after December 31, 2017. C Banks and Financial Instruments 13531. Limitation on deduction for FDIC premiums (a) In general Section 162 is amended by redesignating subsection (q) as subsection (r) and by inserting after subsection (p) the following new subsection: (q) Disallowance of FDIC premiums paid by certain large financial institutions (1) In general No deduction shall be allowed for the applicable percentage of any FDIC premium paid or incurred by the taxpayer. (2) Exception for small institutions Paragraph (1) shall not apply to any taxpayer for any taxable year if the total consolidated assets of such taxpayer (determined as of the close of such taxable year) do not exceed $10,000,000,000. (3) Applicable percentage