§ 31A-22-501.1. Employer groups.

(1) The lives of a group of individuals may be insured under a policy: (a) issued as a policyholder, to: (i) an employer; or (ii) an employer sponsored trust for the benefit of the employer's employees; (b) having an insurable interest as stated in Subsection 31A-21-104(3)(d); and (c) subject to the requirement of Subsection 31A-21-104(3)(d)(v). (2) A policy issued under this section is not subject to: (a) Section 31A-21-311; and (b) Sections 31A-22-516 through 31A-22-522.