§2605-A. Labor union groups






The lives of a group of individuals may be insured under a policy issued to a labor
union, or similar employee organization, which is considered to be the policyholder,
to insure members of that union or organization for the benefit of persons other than
the union or organization or any of its officials, representatives or agents, subject
to the following requirements. [1981, c. 150, §7 (NEW).]








1. 
 
The members eligible for insurance under the policy are all of the members of the
union or organization, or all of any class or classes thereof.


[
1981, c. 150, §7 (NEW)
.]








2. 
 
The premium for the policy shall be paid either from funds of the union or organization,
or from funds contributed by the insured members specifically for their insurance,
or from both. Except as provided in subsection 3, a policy on which no part of the
premium is to be derived from funds contributed by the insured members specifically
for their insurance must insure all eligible members, except those who reject that
coverage in writing.


[
1981, c. 150, §7 (NEW)
.]








3. 
 
An insurer may exclude or limit the coverage on any person as to whom evidence of
individual insurability is not satisfactory to the insurer.


[
1981, c. 150, §7 (NEW)
.]





SECTION HISTORY

1981, c. 150, §7 (NEW).