41-2002 — GROUP CONTRACTS MUST MEET GROUP REQUIREMENTS

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                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 20
                             GROUP LIFE INSURANCE
    41-2002.  GROUP CONTRACTS MUST MEET GROUP REQUIREMENTS. (1) No life
insurance policy shall be delivered or issued for delivery in this state
insuring the lives of more than one individual unless to one of the groups as
provided for in sections 41-2003 through 41-2007 of this chapter, and unless
in compliance with the other applicable provisions of this chapter.
    (2)  Subsection (1) above, shall not apply to life insurance policies:
    (a)  Insuring only individuals related by blood, marriage or legal
adoption; or
    (b)  Insuring only individuals having a common interest through ownership
of a business enterprise, or a substantial legal interest or equity therein,
and who are actively engaged in the management thereof; or
    (c)  Insuring only individuals otherwise having an insurable interest in
each other's lives.