Alternative group life insurance coverage
(1) Group life insurance coverage offered to a resident in this state under a group life insurance policy issued to a group other than one described in ORS 743.351 (Eligibility of association to be group life policyholder) or 743.354 (Requirements for certain group life policies issued to trustees of certain funds) may be delivered if:
(a) The Director of the Department of Consumer and Business Services finds that:
(A) The issuance of the policy is in the best interest of the public;
(B) The issuance of the policy would result in economies of acquisition or administration; and
(C) The benefits are reasonable in relation to the premiums charged;
(b) The premium for the policy is paid either from funds of a policyholder, from funds contributed by a covered person or from both; and
(c) An insurer has the discretion to exclude or limit coverage for a voluntary plan on any person for whom evidence of individual insurability is not satisfactory to the insurer.
(2) The requirements of ORS 743.303 (Requirements for issuance of group life insurance policies) do not apply to a policy authorized under subsection (1) of this section. [2001 c.943 §3]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.