§ 26-23-402 — Group or master policy

(a) A group or master policy for personal or commercial
lines property and casualty insurance coverage shall be issued
to the policyholder. Eligible members or covered persons
insured under a group or master policy shall be provided
evidence of coverage setting forth a statement as to the
insurance protection to which they are entitled.
(b) A group or master policy for personal or commercial
lines property and casualty insurance coverage shall not be
issued or delivered in this state unless the policy form,
together with all forms for riders, certificates and
endorsements to the policy form, meet the applicable filing
requirements in this state. Subsequent amendments to the policy
form or forms for riders, certificates and endorsements to the
policy form shall not be issued or delivered until they meet the
applicable filing requirements in this state.
(c) The group or master personal or commercial lines
property and casualty policy shall set forth the coverages,
exclusions and conditions of the insurance provided therein,
together with the terms and conditions of the agreement between
the policyholder and the insurer. The policy shall make express
provisions for the following:
(i) Methods of premium collection;
(ii) Enrollment period, effective date provisions and
eligibility standards for members or covered persons;
(iii) Termination or modification of the policy; and
(iv) Conversion privileges of the members or covered
persons, if any.
(d) If the group or master personal or commercial lines
property or casualty master policy provides for remittance of
premium by the policyholder, failure of the policyholder to
remit premiums when due shall not be regarded as nonpayment of
premium by the member or covered person who has made his
contribution on a timely basis.