26-17-109. Credit union group.
(a) The lives of a group of individuals may be insured under a policy issued to a credit union or a trustee or agent designated by two (2) or more credit unions, which credit union, trustee or agent is deemed the policyholder, to insure members of the credit union for the benefit of persons other than the credit union, trustee, agent or any of their officials, subject to the following requirements:
(i) All members or all of any class of members of the credit union are eligible for insurance under the terms of the policy;
(ii) Policy premiums shall be paid by the policyholder from the credit union's funds and shall insure all eligible members except that an insurer may exclude or limit the coverage on any member if evidence of individual insurability does not satisfy the insurer.
(A) Repealed by Laws 1990, ch. 3, § 3.
(B) Repealed by Laws 1990, ch. 3, § 3.
(iii) Repealed by Laws 1990, ch. 3, § 3.
(B) Repealed by Laws 1990, ch. 3, § 3.
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