58-18-2 Employee group insurance authorized--"Employees" defined.
Employee group insurance authorized--"Employees" defined.
insurance may be under a policy issued to an employer or trustees of a fund established by an
employer, who shall be deemed the policyholder, insuring employees of such employer for the
benefit of persons other than the employer. The term "employees" as used herein shall be deemed
to include the officers, managers, and employees of the employer, the individual proprietor or partner
if the employer is an individual proprietor or partnership, the officers, managers, and employees of
subsidiary or affiliated corporations, the individual proprietor or partners and employees of
individuals and firms, if the business of the employer and such individual or firm is under common
control through stock ownership, contract, or otherwise. The term "employees" as used herein may
include retired employees. No director of a corporate employer shall be eligible for insurance under
the policy unless such person is otherwise eligible as a bona fide employee of the corporation, by
performing services other than the usual duties of a director. A policy issued to insure employees of
a public body may provide that the term "employees" shall include elected or appointed officials. The
policy may provide that the term "employees" shall include the trustees or their employees, or both,
if their duties are principally with such trusteeship.
Source: SL 1966, ch 111, ch 26, § 1 (1).