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2005 Idaho Code - 41-2002 — GROUP CONTRACTS MUST MEET GROUP REQUIREMENTS
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.
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