§ 26-17-110 — Provisions required in group contracts; exceptions

(a) No group life insurance policy shall be delivered in
this state unless it contains provisions conforming in substance
to the provisions set forth in W.S. 26-17-110 through 26-17-121
and 26-17-130 or provisions which in the commissioner's opinion
are more favorable to the persons insured, or at least as
favorable to the persons insured and more favorable to the
policyholder, except that:
(i) W.S. 26-17-116 through 26-17-120 and 26-17-130 do
not apply to policies issued to a creditor to insure debtors of
that creditor;
(ii) The standard provisions required for individual
life insurance policies do not apply to group life insurance
policies; and
(iii) If the group life insurance policy is on a plan
of insurance other than the term plan, it shall contain a
nonforfeiture provision which in the commissioner's opinion is
equitable to the insured persons and to the policyholder, but
nothing in this subsection requires that group life insurance
policies contain the same nonforfeiture provisions as are
required for individual life insurance policies.