(1) A policy is subject to the requirements of this section if the policy is issued as policyholder to an association or to the trustees of a fund established, created, or maintained for the benefit of members of one or more associations: (a) with a minimum membership of 100 persons; (b) with a constitution and bylaws; (c) having a shared or common purpose that is not primarily a business or customer relationship; and (d) that has been in active existence for at least two years.
(a) with a minimum membership of 100 persons;
(b) with a constitution and bylaws;
(c) having a shared or common purpose that is not primarily a business or customer relationship; and
(d) that has been in active existence for at least two years.
(2) The policy may insure members and employees of the association, employees of the members, one or more of the preceding entities, or all of any classes of these named entities for the benefit of persons other than the employees' employer, or any officials, representatives, trustees, or agents of the employer or association.
(3) The premiums shall be paid by the policyholder from funds contributed by the associations, by employer members, from funds contributed by the covered persons, or from any combination of these. Except as provided under Section 31A-22-512, a policy on which no part of the premium is contributed by the covered persons, specifically for their insurance, is required to insure all eligible persons.
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