§ 26-17-106 — Trustee groups

Wyoming § 26-17-106

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 17: GROUP LIFE INSURANCE

Text

(a) The lives of a group of individuals may be insured
under a policy issued to a trust or the trustees of a fund
established or adopted by two (2) or more employers, by one (1)
or more labor unions or similar employee organizations, or by
one (1) or more employers and one (1) or more labor unions or
similar employee organizations, which trust or trustees are
deemed the policyholder, to insure employees of the employers or
members of the unions or organizations, for the benefit of
persons other than the employers, unions or organizations,
subject to the following requirements:
(i) No policy shall be issued to insure employees of
any employer whose eligibility to participate in the fund as an
employer arises out of considerations directly related to the
employer being a commercial correspondent or business client or
patron of another employer, except if the other employer
exercises substantial control over the business operations of
the participating employers;
(ii) All employees of the employers, members of the
unions or organizations, or any classes of the employers, union
members or organization members are eligible for insurance under
the terms of the policy;
(iii) The policy may define "employees" to include:
(A) Retired or former employees;
(B) The individual proprietor or partners, if an
employer is an individual proprietor or a partnership;
(C) The trustees, trustees' employees, or both,
if their duties are principally connected with the trusteeship;
(D) Employees of one (1) or more subsidiary
corporations and the employees, individual proprietors and
partners of one (1) or more affiliated corporations,
proprietorships or partnerships if the business of the employer
and of the affiliated corporations, proprietorships or
partnerships is under common control;
(E) Directors of a corporate employer.
(iv) Repealed by Laws 1990, ch. 3, § 3.
(v) Policy premiums shall be paid by the trustees
subject to the following requirements:
(A) Repealed by Laws 1990, ch. 3, §§ 2, 3.
(B) Repealed by Laws 1990, ch. 3, § 3.
(C) If the covered person does not pay any part
of the premium for his insurance, the policy shall insure all
eligible persons, except those who reject the coverage in
writing and those who do not present evidence of individual
insurability satisfactory to the insurer.
(vi) Repealed by Laws 1990, ch. 3, § 3.
(vii) Repealed by Laws 1990, ch. 3, § 3.