27-23-24
Section 27-23-24 Notice of cancellation - Availability of assigned risk plan notification.
When a policy is cancelled other than for nonpayment of premium, the insurer shall notify
the named insured of his possible eligibility for insurance through the automobile assigned
risk plan. Such notice shall accompany, or be included in, the notice of cancellation and
shall state that such notice of availability of the automobile assigned risk plan is given
pursuant to this article. (Acts 1971, No. 407, p. 707, §485.6.)...
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27-18-16
Section 27-18-16 Assignment of rights and benefits under group policies. Any person insured
under a group insurance policy may, in accordance with Section 27-14-21 and pursuant to the
terms of such policy or an arrangement among the insured, the group policyholder and the insurer,
make an assignment of the rights and benefits conferred by any provision of such policy or
by law, including specifically, but not by way of limitation, the right to have issued to
the insured an individual policy arising from conversion or otherwise and the right to name
a beneficiary. Any assignment permitted in this section, whether made before or after January
1, 1972, shall be valid for the purpose of vesting in the assignee all such rights and benefits
so assigned and shall entitle the insurer to deal with the assignee as the owner of all rights
and benefits conferred on the insured under the policy in accordance with the terms of the
assignment without prejudice to the insurer on account of any payment...
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27-18-3
Section 27-18-3 Policy provisions - Grace period. The group life insurance policy shall contain
a provision that the policyholder is entitled to a grace period of not less than 30 days for
the payment of any premium due except the first, during which grace period the death benefit
coverage shall continue in force unless the policyholder shall have given the insurer written
notice of discontinuance in advance of the date of discontinuance and in accordance with the
terms of the policy. The policy may provide that the policyholder shall be liable to the insurer
for the payment of a pro rata premium for the time the policy was in force during such grace
period. (Acts 1971, No. 407, p. 707, §409.)...
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27-16-12
Section 27-16-12 Policy provisions - Beneficiaries; payment to other than designated beneficiary.
(a) Each such policy shall have a space for the name of the beneficiary designated with a
reservation of the right to designate or change the beneficiary after the issuance of the
policy. (b) The policy may also provide that no designation or change of beneficiary shall
be binding on the insurer until endorsed on the policy by the insurer and that the insurer
may refuse to endorse the name of any proposed beneficiary who does not appear to the insurer
to have an insurable interest in the life of the insured. (c) Such a policy may also provide
that if the beneficiary designated in the policy does not make a claim under the policy or
does not surrender the policy with due proof of death within the period stated in the policy,
which shall be not less than 30 days after the death of the insured, or if the beneficiary
is the estate of the insured, or is a minor, or dies before the insured or is...
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27-18-11
Section 27-18-11 Policy provisions - Conversion - Termination of eligibility. The group life
insurance policy shall contain a provision that if the insurance, or any portion of it, on
a person covered under the policy ceases because of termination of employment or of membership
in the class, or classes, eligible for coverage under the policy, such person shall be entitled
to have issued to him by the insurer, without evidence of insurability, an individual policy
of life insurance without disability or other supplementary benefits, provided application
for the individual policy shall be made and the first premium paid to the insurer within 31
days after such termination and provided, further, that: (1) The individual policy shall,
at the option of such person, be on any one of the forms, except term insurance, then customarily
issued by the insurer at the age and for the amount applied for; (2) The individual policy
shall be in an amount not in excess of the amount of life insurance...
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27-19-12
Section 27-19-12 Mandatory policy provisions - Payment of claims. There shall be a provision
as follows: "Payment of Claims: Indemnity for loss of life will be payable in accordance
with the beneficiary designation and the provisions respecting such payment which may be prescribed
herein and effective at the time of payment. If no such designation or provision is then effective,
such indemnity shall be payable to the estate of the insured. Any other accrued indemnities
unpaid at the insured's death may, at the option of the insurer, be paid either to such beneficiary
or to such estate. All other indemnities will be payable to the insured." The following
provisions, or either of them, may be included with the foregoing provision at the option
of the insurer: "If any indemnity of this policy shall be payable to the estate of the
insured or to an insured or beneficiary who is a minor or otherwise not competent to give
a valid release, the insurer may pay such indemnity, up to an amount...
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19-3B-505
Section 19-3B-505 Creditor's claim against settlor. (a) Whether or not the terms of a trust
contain a spendthrift provision, the following rules apply: (1) During the lifetime of the
settlor, the property of a revocable trust is subject to claims of the settlor's creditors.
(2) With respect to an irrevocable trust, a creditor or assignee of the settlor may reach
the maximum amount that can be distributed to or for the settlor's benefit. If a trust has
more than one settlor, then the amount the creditor or assignee of a particular settlor may
reach may not exceed the settlor's interest in the portion of the trust attributable to that
settlor's contribution. (3) After the death of a settlor, and subject to the settlor's right
to direct the source from which liabilities will be paid, the property of a trust that was
revocable immediately prior to the settlor's death is subject to claims of the settlor's creditors,
costs of administration of the settlor's estate, the expenses of the...
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27-42-8
Section 27-42-8 Powers and duties. (a) The association shall: (1)a. Be obligated to pay covered
claims existing prior to the order of liquidation arising within 30 days after the order of
liquidation, or before the policy expiration date if less than 30 days after the order of
liquidation, or before the insured replaces the policy or causes its cancellation, if he or
she does so within 30 days of the order of liquidation. The obligation shall be satisfied
by paying to the claimant an amount as follows: 1. The full amount of a covered claim for
benefits under workers' compensation insurance coverage. 2. An amount not exceeding ten thousand
dollars ($10,000) per policy for a covered claim for the return of unearned premium. 3. An
amount not exceeding three hundred thousand dollars ($300,000) or the policy limits, whichever
is less, per claim for all covered claims. For purposes of this limitation, all claims of
any kind whatsoever arising out of, or related to, bodily injury or death to...
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27-6B-4
Section 27-6B-4 Contract requirements. (a) Unless there is a written contract between the controlling
producer and the insurer approved by the board of directors of the insurer and specifying
the responsibilities of each party, a controlled insurer shall not accept business from a
controlling producer and a controlling producer shall not place business with a controlled
insurer. The contract between a controlling producer and a controlled insurer shall, as a
minimum, contain all of the following: (1) A provision that, upon written notice to the controlling
producer, the controlled insurer may terminate the contract for cause. The controlled insurer
shall suspend the authority of the controlling producer to write business during any pending
dispute regarding the cause for the termination. (2) A provision requiring the controlling
producer to give a detailed accounting to the controlled insurer on any material transaction,
including information necessary to support all commissions,...
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27-12-14
Section 27-12-14 Inducements as to property, casualty, or surety insurance. (a) No property,
casualty, or surety insurer, or any employee thereof, and no broker, agent, or solicitor shall
pay, allow, or give, or offer to pay, allow, or give, directly or indirectly, as an inducement
to insurance or after insurance has been effected, any rebate, discount, abatement, credit,
or reduction of the premium named in a policy of insurance, or any special favor or advantage
in the dividends or other benefits to accrue thereon or any valuable consideration or inducement
whatever not specified in the policy except to the extent provided for in rating systems filed
with the commissioner by, or on behalf of, the insurer and approved by the commissioner. (b)
No insured named in a policy nor any employee of such insured shall knowingly receive or accept,
directly or indirectly, any such rebate, discount, abatement, credit, or reduction of premium.
(c) Nothing in this section shall be construed as...
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