§ 4216. Group life insurance; premium requirements; notice of\nconversion; filing of compensation. (a) (1) In this chapter:\n (A) "Group life insurance" means that form of life insurance covering\nany one of the groups specified in subsection (b) hereof, which is\nwritten under a policy issued to the policyholder as hereinafter\ndefined, and which in all other respects conforms to the requirements of\nsubsection (b) hereof.\n (B) "Certificate holder," as used in relation to a group life\ninsurance policy, means the person to whom a certificate evidencing such\ninsurance is issued under any such policy, as hereinafter provided.\n (2) In this section, for the purposes of insurance hereunder:\n"employees" may be deemed to include (i) the officers, managers,\nemployees and retired employees of the employer and of subsidiary or\naffiliated corporations of a corporate employer, and the individual\nproprietors, partners, employees and retired employees of affiliated\nindividuals and firms controlled by the employer through stock\nownership, contract or otherwise; (ii) the individual proprietor or\npartner if the employer is an individual proprietor or a partnership;\n(iii) as used in paragraph one of subsection (b) hereof, the directors\nof the employer and of subsidiary or affiliated corporations of a\ncorporate employer; and (iv) as used in paragraphs four and five of\nsubsection (b) hereof, the trustees or their employees, or both, if\ntheir duties are principally connected with such trusteeship.\n (b) Any life insurance company authorized to do business in this state\nmay deliver in this state policies of group life insurance only as\nfollows:\n (1) A policy issued to an employer or to a trustee or trustees of a\nfund established by an employer, which employer or trustees shall be\ndeemed the policyholder, insuring with or without evidence of individual\ninsurability satisfactory to the insurer, employees of such employer,\nand insuring, except as hereinafter provided, all of such employees or\nall of any class or classes thereof determined by conditions pertaining\nto the employment, or by a combination of such conditions and conditions\npertaining to the family status of the employee, for amounts of\ninsurance on each person insured based upon some plan which will\npreclude individual selection. However, such a plan may permit a limited\nnumber of selections by employees if the selections offered utilize a\nconsistent pattern of grading the amounts of insurance for individual\ngroup members so that the resulting pattern of coverage is reasonable.\nThe premium for the policy shall be paid by the policyholder, either\nwholly from the employer's funds or from funds contributed by the\ninsured employees, or from funds contributed jointly by the employer and\nemployees. If all or part of the premium is to be derived from funds\ncontributed by the insured employees, such policy must insure a minimum\nof fifty percent or five of such eligible employees whichever is fewer.\nExcept as provided in subsection (b) of section four thousand two\nhundred thirty-one of this article and in paragraph five of subsection\n(a) of section three thousand two hundred twenty of this chapter, such\npolicy shall provide for payment of all benefits thereunder, to the\nperson insured or to some beneficiary or beneficiaries other than the\nemployer, and shall provide for the issuance of a certificate to the\npolicyholder for delivery to the person insured or to such beneficiary,\nas evidence of such insurance.\n (2) A policy issued to a labor union, which shall be deemed the\npolicyholder insuring, with or without evidence of individual\ninsurability satisfactory to the insurer, not less than twenty-five\nmembers of such union, and insuring, except as hereinafter provided all\nof the members of such union or all of any class or classes thereof\ndetermined by conditions pertaining to their employment or membership in\nthe union, or both, and who are ac
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