§ 58-52-5. Joint action to insure persons 65 years of age or over and their spouses permitted; associations of insurers; individual and group policies. - North Carolina Statutes

§58‑52‑5.  Joint action to insure persons 65 years of age or overand their spouses permitted; associations of insurers; individual and grouppolicies.

Notwithstanding any otherprovisions of Articles 1 through 64 of this Chapter or any other law which maybe inconsistent herewith, any insurer may join with one or more other insurersto plan, develop, underwrite, offer, sell and provide to or for any residentperson of this State, or of another state if permitted by the laws of suchother state, who is 65 years of age or over and to the spouse of such person,insurance against financial loss from accident or sickness, or both.  Suchinsurance may also cover an employer's nonresident employees and nonresidentretired employees 65 years of age or older and their spouses, provided suchemployees are regularly employed within this State or were so employed at thetime of their retirement.  Such insurance may be offered, issued andadministered through an association of two or more insurers which associationis formed for the purpose of offering, selling, issuing and administering suchinsurance, and may be in the form of a policy insuring a resident who is 65years of age or older, and the spouse of such resident, if any, or in the formof a group policy insuring residents 65 years of age or older and the spousesof such residents, or in both forms.  On such insurance each insurer shall beseverally liable for a percentage of the risks determined under the articles ofassociation of the association.  The insurer members of such association mayagree with respect to premium rates, policy provisions, commission rates andother matters within the scope of this Article. (1963, c. 1125; 1965, c. 677;1991, c. 720, s. 72.)