Section 59A-21-2 - Group contracts must meet requirementsA. No life insurance policy shall be delivered or issued for delivery in this state insuring the lives of more than one individual unless to a group defined in this article and otherwise in compliance with this article. B. Subsection A hereof does not apply to life insurance policies insuring only individuals: (1) related by blood, marriage or legal adoption; or (2) having a common interest through ownership of a business enterprise, or a substantial legal interest or equity therein, and who are actively engaged in management thereof; or (3) otherwise having an insurable interest in each other's lives. Laws 1984, ch. 127, § 400.