§ 26-19-105 — Readjustment of premiums; dividends

Any group disability insurance contract may provide for the
readjustment of the rate of premium based upon the experience
under the contract. If a policy dividend is declared or a
reduction in rate is made or continued for the first or any
subsequent year of insurance under any group disability
insurance policy issued to any policyholder, the excess, if any,
of the aggregate dividends or rate reductions under the policy
and all other group insurance policies of the policyholder over
the aggregate expenditure for insurance under those policies
made from funds contributed by the policyholder, or by an
employer of insured persons, or by a union or association to
which the insured persons belong, including expenditures made in
connection with administration of the policies, shall be applied
by the policyholder for the sole benefit of insured employees or
members.