§431:10D-210  Occupation, industry, or trade
association groups.  The lives of a group of individuals may be insured
under a policy issued to an association of individuals belonging to a single
occupation, industry, or trade association, which shall be deemed the
policyholder, to insure members of the association for the benefit of persons
other than the association or any of its officials, subject to the following
requirements:



(1)  The association must have been formed for
purposes other than obtaining insurance.



(2)  The members eligible for insurance under the
policy shall be all of the members of the association.



(3)  The premium for the policy shall be paid either
from the association's own funds or from charges collected from the insured
members specifically for the insurance, or from both.  No policy may be placed
in force unless and until at least seventy-five per cent of the then eligible
members of the association, excluding any as to whom evidence of individual
insurability is not satisfactory to the insurer, have elected to be covered and
have arranged for payment of their individual contributions to the association.



(4)  Charges collected from the insured members
specifically for the insurance, and the dues of the association if they include
the cost of insurance, may be determined according to each attained age or in
not less than four reasonably spaced attained age groups.



(5)  The policy must cover at least twenty-five
persons at date of issue.



(6)  The amounts of insurance under the policy must be
based upon some plan precluding individual selection either by the members or
by the association. [L 1987, c 347, pt of §2]