§ 48.24.045. Certain associations as groups
The lives of a group of individuals may be insured under a policy issued to an association which has been in active existence for at least one year, which has a constitution and bylaws, and which has been organized and is maintained in good faith for purposes other than that of obtaining insurance. Under this group life insurance policy, the association shall be deemed the policyholder. The policy may insure association employees, members, or their employees. Beneficiaries under the policy shall be persons other than the association or its officers or trustees. The term "employees" as used in this section may include retired employees.
[1979 ex.s. c 44 § 1.]
Sections: Previous 48.24.010 48.24.020 48.24.025 48.24.030 48.24.035 48.24.040 48.24.045 48.24.050 48.24.060 48.24.070 48.24.080 48.24.090 48.24.095 48.24.100 48.24.110 NextLast modified: April 7, 2009