§ 58-58-150. Employee life insurance defined. - North Carolina Statutes

§58‑58‑150.  Employee life insurance defined.

Employee life insurance ishereby declared to be that plan of life insurance other than salary savingslife insurance under which individual policies are issued to the employees ofany employer where such policies are issued on the life of more than oneemployee at date of issue. Premiums for such policies shall be paid by theemployer or the trustee of a fund established by the employer either whollyfrom the employer's funds, or funds contributed by him, or partly from suchfunds and partly from funds contributed by the insured employees. (1947,c. 721; 1957, c. 1008.)