Insurance under any group life insurance policy issued pursuant to Sections 59A-21-4 and 59A-21-6 through 59A-21-8 NMSA 1978 may be extended to insure the dependents, or any class or classes thereof, of each employee or member who so elects. The term "dependent" means the spouse of the employee or member and an employee's or member's minor child, including a child beyond the age of majority up to a maximum of twenty-five years of age while attending an educational institution, and such other children of the employee or member as provided within the group life insurance policy. The premiums for the insurance on such dependents may be paid by the group policyholder or by the employee or member or by the group policyholder and the employee or member jointly.

History: Laws 1984, ch. 127, § 407; 1993, ch. 126, § 3.

The 1993 amendment, effective June 18, 1993, in the first sentence, substituted "59A-21-4 and 59A-21-6 through 59A-21-8 NMSA 1978" for "402 (employee groups), 404 (labor union groups), 405 (trustee groups) and 406 (association groups) of this article", deleted "insured" preceding "employee", and deleted the following language which formerly appeared at the end of the sentence: "in amounts in accordance with some plan which precludes individual selection and shall not be in excess of fifty percent of the insurance on the life of such employee or member"; and, in the second sentence, deleted "insured" preceding the first occurrence of "employee" and preceding "employee's", inserted "minor" preceding "child", substituted the language following "minor child" for "under twenty-one (21) years of age, or his child twenty-one (21) years or older who is attending an educational institution and relying upon the insured employee or member for financial support", and made minor stylistic changes.