58-24-45.1. Group insurance marketing permitted--Conditions.

An insurer may market insurance through a group insurance or mass marketing plan, franchise, or blanket policy for any line of insurance regulated under this chapter if:

(1)    The insured group was not formed solely for the purpose of purchasing insurance; and

(2)    The premium is paid or collected by:

(a)    An employer, labor union, or the trustee of a fund established by the employer or labor union;

(b)    The trustee of a fund established by two or more employers in the same industry, or related industries;

(c)    Two or more labor unions or an association which have been in existence for one or more years and which have a constitution and bylaws; or

(d)    A wireless telecommunications provider from its customers and the premium is for insurance covering wireless telecommunications equipment.

Source: SL 1979, ch 341, § 12; SL 2008, ch 270, § 1; SL 2014, ch 239, § 12.