Section 31A-22-501.1 - Employer groups(1) The lives of a group of individuals may be insured under a policy: (a) issued as a policyholder, to: (ii) an employer sponsored trust for the benefit of the employer's employees;(b) having an insurable interest as stated in Subsection 31A-21-104(3)(d); and(c) subject to the requirement of Subsection 31A-21-104(3)(d)(v).(2) A policy issued under this section is not subject to: (a) Section 31A-21-311; and(b) Sections 31A-22-516 through 31A-22-522.Amended by Chapter 263, 2008 General Session.