26.1-33-04. Single premium and nonparticipating life policies

26.1-33-04. Single premium and nonparticipating life policies A single premium life insurance policy may be issued in any form prescribed in this chapter omitting therefrom provisions or portions thereof applicable only to other than single premium policies. A nonparticipating life insurance policy may be issued in any form prescribed in this chapter if the policy contains a provision that the policy is nonparticipating, and the policy omits clauses for participation in the surplus of the company.