§431:10D-201 Group life insurance requirements. (a) Except as provided in subsection (b), no policy of group life insurance shall be delivered in this State unless it conforms to one of the descriptions as provided in this article.
(b) Subsection (a) shall not apply to contracts of life insurance insuring only individuals:
(1) Related by marriage, by blood, or by legal adoption; or
(2) Having a common interest through ownership of a business enterprise, or of a substantial legal interest or equity in the business enterprise, and who are actively engaged in its management; or
(3) Otherwise having an insurable interest in each other's lives. [L 1987, c 347, pt of §2]
Section: Previous 431-10d-112 431-10d-113 431-10d-114 431-10d-115 431-10d-116 431-10d-117 431-10d-118 431-10d-201 431-10d-202 431-10d-203 431-10d-204 431-10d-205 431-10d-206 431-10d-207 431-10d-208 NextLast modified: October 27, 2016