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These documents are currently being revised to incorporate the changes made during the 2024 Legislative Session. Please consult the Sections Affected Table for changes made during the 2024 Legislative Session.

48.23.330  <<  48.23.340 >>   48.23.345

Prohibited policy plans.

No life insurer shall hereafter issue for delivery or deliver in this state any life insurance policy:
(1) Issued under any plan for the segregation of policyholders into mathematical groups and providing benefits for a surviving policyholder of a group arising out of the death of another policyholder of such group, or under any other similar plan.
(2) Providing benefits or values for surviving or continuing policyholders contingent upon the lapse or termination of the policies of other policyholders, whether by death or otherwise.
[1947 c 79 § .23.34; Rem. Supp. 1947 § 45.23.34.]
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