* § 3453. Self-service storage company group insurance policies. (a)\nFor purposes of this section, unless the context requires otherwise:\n (1) "Self-service storage company group policy" means a group policy,\nincluding certificates issued to the group members, where the group\npolicyholder is a self-service storage company and the policy provides\ninsurance to group members of the type described in paragraph three of\nsubsection (d) of section two thousand one hundred thirty-one of this\nchapter.\n (2) "Group member" means a person who rents storage space from a\nself-service storage company and who is insured under the self-service\nstorage company group policy.\n (3) "Certificate" or "certificate of insurance" means any policy,\ncontract, or other evidence of insurance, or rider or endorsement\nthereto, issued to a group member under a self-service storage company\ngroup policy.\n (b) A self-service storage company group policy or certificate may be\nissued or issued for delivery in this state only in compliance with the\nprovisions of this section.\n (c) Coverage under a self-service storage company group policy shall\nextend only to group members.\n (d) A self-service storage company group policy may provide only the\ninsurance coverages described in paragraph three of subsection (d) of\nsection two thousand one hundred thirty-one of this chapter.\n (e) The premium for the self-service storage company group policy,\nincluding certificates, shall be paid wholly by the group members if the\ngroup policyholder is licensed pursuant to section two thousand one\nhundred thirty-one of this chapter. In all other cases, such premium may\nbe paid by the group policyholder from funds contributed:\n (1) wholly by the group policyholder;\n (2) wholly by the group members; or\n (3) jointly by the group policyholder and group members.\n (f)(1) Any policy dividend, retrospective premium credit, or\nretrospective premium refund in respect of premiums paid by the group\npolicyholder may:\n (A) be applied to reduce the premium contribution of the group\npolicyholder, but not in excess of the proportion to its contribution;\nor\n (B) be retained by the group policyholder.\n (2) Any policy dividend, retrospective premium credit, or\nretrospective premium refund not distributed under paragraph one of this\nsubsection shall be:\n (A) applied to reduce future premiums and, accordingly, future\ncontributions, of existing or future group members, or both; or\n (B) paid or refunded to those group members insured on the date the\npayment or refund is made to the group policyholder, if distributed by\nthe group policyholder, or on the date of mailing, if distributed\ndirectly by the insurer, subject to the following requirements:\n (i) the insurer shall be responsible for determining the allocation of\nthe payment or refund to the group members;\n (ii) if the group policyholder distributes the payment or refund, the\ninsurer shall be responsible for audit to ascertain that the payment or\nrefund is actually made in accordance with the allocation procedure; and\n (iii) if the group policyholder fails to make the payment or refund,\nthe insurer shall make the payment or refund directly or use the method\nprovided in subparagraph (A) of this paragraph.\n (3) Notwithstanding paragraphs one and two of this subsection, if a\ndividend accrues upon termination of coverage under a self-service\nstorage company group policy, the premium for which was paid out of\nfunds contributed by group members specifically for the coverage, the\ndividend shall be paid or refunded by the group policyholder to the\ngroup members insured on the date the payment or refund is made to the\ngroup policyholder, net of reasonable expenses incurred by the group\npolicyholder in paying or refunding the dividend to such group members.\n (4) For the purposes of this subsection, "dividend" means a return by\nan insurer to a group policyholder of excess premiums pa
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