§ 31A-22-515. Nonforfeiture.

Latest version.

If the group life insurance policy is not a term policy, it shall contain nonforfeiture provisions which the commissioner determines to be equitable to the insured persons and to the policyholder. The commissioner may not require that group life insurance policies contain the same nonforfeiture provisions which are required for individual life insurance policies.

Enacted by Chapter 242, 1985 General Session

                    
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