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3270
LAWS OF MARYLAND
[Ch. 738
OF THE VOLUNTEER FIRE, RESCUE SQUAD, OR AMBULANCE SERVICE
ORGANIZATION, FOR THE BENEFIT OF PERSONS OTHER THAN THE
POLICYHOLDER, SUBJECT TO THE FOLLOWING REQUIREMENTS:
(1) THE MEMBERS ELIGIBLE FOR INSURANCE UNDER
THE POLICY SHALL BE ALL REGISTERED MEMBERS OF A VOLUNTEER
FIRE, RESCUE SQUAD, OR AMBULANCE SERVICE ORGANIZATION.
(2) THE PREMIUM FOR THE POLICYHOLDER, SHALL
BE PAID EITHER WHOLLY FROM THE FUNDS OF THE VOLUNTEER
FIRE, RESCUE SQUAD, OR AMBULANCE SERVICE ORGANIZATION, OR
PARTLY FROM FUNDS OF THE VOLUNTEER FIRE, RESCUE SQUAD, OR
AMBULANCE SERVICE ORGANIZATION AND PARTLY FROM FUNDS
CONTRIBUTED BY THE INSURED MEMBERS OF THAT VOLUNTEER
FIRE, RESCUE SQUAD, OR AMBULANCE SERVICE ORGANIZATION
SPECIFICALLY FOR THEIR INSURANCE. A POLICY MAY NOT BE
ISSUED ON WHICH THE ENTIRE PREMIUM IS TO BE DERIVED FROM
FUNDS CONTRIBUTED BY THE INSURED MEMBERS SPECIFICALLY FOR
THEIR INSURANCE. A POLICY ON WHICH PART OF THE PREMIUM
IS TO BE DERIVED FROM FUNDS CONTRIBUTED BY THE INSURED
PERSONS SPECIFICALLY FOR THEIR INSURANCE MAY BE PLACED IN
FORCE ONLY IF AT LEAST 75 PERCENT OF THE THEN-ELIGIBLE
PERSONS, EXCLUDING ANY AS TO WHOM EVIDENCE OF INDIVIDUAL
INSURABILITY IS NOT SATISFACTORY TO THE INSURER, ELECT
TO MAKE THE REQUIRED CONTRIBUTIONS. A POLICY ON WHICH NO
PART OF THE PREMIUM IS TO BE DERIVED FROM FUNDS
CONTRIBUTED BY THE INSURED PERSONS SPECIFICALLY FOR THEIR
INSURANCE MUST INSURE ALL ELIGIBLE PERSONS OR ILL EXCEPT
ANY AS TO WHOM EVIDENCE OF INDIVIDUAL INSURABILITY IS NOT
SATISFACTORY TO THE INSURER.
(3) THE POLICY MUST COVER AT DATE OF ISSUE
AT LEAST 15 REGISTERED MEMBERS PER VOLUNTEER FIRE, RESCUE
SQUAD, OR AMBULANCE SERVICE ORGANIZATION.
(4) THE AMOUNTS OF INSURANCE UNDER THE
POLICY MUST BE BASED UPON SOME PLAN PRECLUDING INDIVIDUAL
SELECTION EITHER BY THE INSURED PERSONS OR BY THE
POLICYHOLDER,
SECTION 2. AND BE IT FURTHER ENACTED, That Section
417 of Article 48A — Insurance Code, of the Annotated
Code of Maryland (1972 Replacement Volume and 1974
Supplement) be and it is hereby repealed and re—enacted,
with amendments, to read as follows:
Article 48A - Insurance Code
417.
(a) No life insurance policy shall be delivered in
this State insuring the lives of more than one individual
unless to one of the groups as provided for in §§ 418
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