§3420. Insurance benefits for employees and others






Pursuant to vote of its board of directors heretofore or hereafter made, any domestic
stock or mutual insurer may provide for its officers, employees or full-time insurance
agents a plan or plans of insurance, to be issued under group or individual policies.
The insurer may pay the cost, in whole or in part, of such insurance; or, if duly
authorized by its charter and bylaws, may itself provide such benefits directly as
the insurer thereof, without requirement of placement through a licensed insurance
agent, and in such case may adjust the premium rate for the insurance to reflect such
savings in expense as the insurer may deem applicable. [1969, c. 132, §1 (NEW).]





SECTION HISTORY

1969, c. 132, §1 (NEW).