CHAPTER 360

4n Act to amend and reenact § 38.1-472 of the Code of Virginia, relating
to group life insurance.
[S 251]

Approved March 14, 1956

Be it enacted by the General Assembly of Virginia:
. That § 38.1-472 of the Code of Virginia be amended and reenacted
8s follows:

§ 38.1-472. A policy of group life insurance, covering not less than
' ten employees at date of issue, insured with or without medical exami-
ation, may be issued to. an employer, or to the trustees of a fund estab-
ished by the employer, which employer or trustee shall be deemed to
e the policyholder, if the premium therefor is to be paid by or from
unds contributed by the employees, the employer, or the employer and
mployees jointly, and the policy insures only all of the employees of
412 ACTS OF ASSEMBLY [VA., 1956

such employer, or all of any class or classes thereof determined by con-
ditions pertaining to the employment, which insurance is based upon
some plan which precludes individual selection and is for the benefit of
persons other than the employer. If the premiums on such policy are to
be paid by or from funds contributed by the employees or by the employees
and the employer jointly, and the benefits of the policy are offered to all
eligible employees, then not less than seventy-five per centum of such
employees may be so insured. If the policy is issued to trustees, the
trustees shall constitute the “employer” under the provisions of Sections
38.1-424 to 38.1-430 with respect to the application for the policy and the
persons to whom individual employee certificates shall be delivered.

The policy may provide that the term “employees” shall include the
employees of one or more subsidiary corporations, and the employees,
individual proprietors, and partners of one or more affiliated corporations,
proprietors or partnerships if the business of the employer and of such
affiliated corporations, proprietors or partnerships is under common
control through stock ownership or contract or otherwise. The policy
may provide that the term “employees” shall include the individual pro-
prietor or partners if the employer is an individual proprietor or a
partnership. The policy may provide that the term “employees” shall
include retired employees. The provisions of this paragraph shall, insofar
as applicable, apply with respect to all forms of group life insurance
provided for in the further sections of this article.