§ 4213. Industrial life insurance.
(a)In this chapter "industrial\nlife insurance" means that form of life insurance, either:\n (1) under which the premiums are payable weekly, or\n (2) under which the premiums are payable monthly or oftener, but less\noften than weekly, if the face amount of insurance provided in any such\npolicy is less than one thousand dollars and if the words "industrial\npolicy" are printed upon the policy as a part of the descriptive matter.\n (b) (1) No insurer or fraternal benefit society doing in this state\nthe business of industrial life insurance shall deliver or issue for\ndelivery in this state, and no agent or representative of any such\ncompany or society shall aid in so issuing or delivering, any policy of\nweekly premium industrial life insurance o
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§ 4213. Industrial life insurance. (a) In this chapter "industrial\nlife insurance" means that form of life insurance, either:\n (1) under which the premiums are payable weekly, or\n (2) under which the premiums are payable monthly or oftener, but less\noften than weekly, if the face amount of insurance provided in any such\npolicy is less than one thousand dollars and if the words "industrial\npolicy" are printed upon the policy as a part of the descriptive matter.\n (b) (1) No insurer or fraternal benefit society doing in this state\nthe business of industrial life insurance shall deliver or issue for\ndelivery in this state, and no agent or representative of any such\ncompany or society shall aid in so issuing or delivering, any policy of\nweekly premium industrial life insurance on the life of a person of the\nage, as determined by next birthday, of ten years or more, with\nknowledge that the amount of such policy, together with the amount of\nall other policies of weekly premium industrial life insurance then in\nforce as premium paying insurance on the life of such person, exceeds\none thousand dollars but nothing contained in this section shall affect\nthe validity or enforceability, in accordance with its terms, of any\nsuch policy.\n (2) The amounts of weekly premium industrial life insurance referred\nto in this subsection shall not include dividend additions nor\nadditional amounts payable under provisions for accidental death\nbenefits.\n (3) Any rules or regulations of any such insurer or fraternal benefit\nsociety, which are designed to limit the amount of insurance, as herein\nprovided, shall be filed with the superintendent.\n (c) No authorized life insurance company, including a cooperative life\nand accident insurance company and no authorized fraternal benefit\nsociety, shall deliver or issue for delivery in this state any policy or\ncontract of industrial life insurance in the form of endowment\ninsurance.\n (d) Notwithstanding the provisions of subsection (c) hereof, any\ndomestic life insurance company or fraternal benefit society may issue\nin this state for delivery outside of this state through its agent or\nlike representative in another state or foreign country any policy of\nindustrial life insurance, in the form of endowment insurance, which\ninsures the life of a non-resident of this state and which is not\nprohibited by the laws of such other state or foreign country.\n (e) Notwithstanding the foregoing provisions, on and after June first,\nnineteen hundred eighty, no policy of industrial life insurance shall be\ndelivered or issued for delivery in this state.\n