§431:10D-117  Life franchise plan. 
Insurance may be issued pursuant to the provisions of this part on a franchise
plan under the terms of which life insurance and annuities, other than group
life insurance, group annuities and industrial life insurance, is issued to:



(1)  Two or more employees of any corporation,
co-partnership, or individual employer or any governmental corporation, agency
or department thereof; or



(2)  Ten or more members, employees, or employees of
members of any trade or professional association or of a labor union or of any
other association having had an active existence for at least two years where
such association or union has a constitution or bylaws and is formed in good
faith for purposes other than that of obtaining insurance.



Such persons, with or without their dependents, may
be issued the same form of an individual policy varying only as to premium,
amounts, and kinds of coverage applied for by such persons under an arrangement
whereby the premiums on such policies may be paid to the insurer periodically
by the employer, with or without payroll deductions, or by the association for
its members, or by some designated person acting on behalf of such employer or
association.  The term employees as used in this section shall be deemed to
include the officers, managers and employees of the employer and the individual
proprietor or partners if the employer is an individual proprietor or
partnership.  No individual may become insured for more than $20,000 under this
plan. [L 1987, c 347, pt of §2]