8-44-116. Reversionary interests in indemnity benefits prohibited

8-44-116. Reversionary interests in indemnity benefits prohibited. No provision in a contract for insurance regulated by this article or any contract ancillary to such a contract, including specifically a contract setting up an annuity for indemnity benefits, shall establish a reversionary interest in the insurer for the indemnity benefits. Any such provision is void and unenforceable as against public policy.