An Act to amend the Life Insurance Act of the District of Columbia to permit certain policies to be issued to members and employees of members of duly organized national veterans organizations
PL 87-855 (H.R.8563), enacted 10/23/1962

76 STAT.] 
PUBLIC LAW 87-855-OCT. 23, 1962 
1131 
Public Law 87-855 
AN ACT 
To aiuend the Life Insurance Act of the District of Columbia to yerniit certain 
policies to be issued to members of duly oi'ganized national veterans' 
organizations. 
October 23, 1962 
[H. R. 8563] 
Be it enacted hy the Senate a/rul House of Representatives 
of the 
United States of America in Congress assembled^ That paragraph (a) 
Life insurance 
of subsection (7) of section 10, chapter V, of the Life Insurance Act, Act, D.C, 
as amended (D.C. Code, sec. 35-710), is amended by striking out "or ^""74 sTat? 315. 
association members," each of the two phices where it appears and 
inserting in lieu thereof at each such place the following: "or members 
of the organization or the association,". 
SEC. 2. Section 10 of chapter V of the Life Insurance Act, as 
veterans' 
amended (D.C, Code, sec. 35-710), is amended by adding at the end °'"|^J'^f^"°"s-
thereof the following new subsection: 
group^insi^Lc^'e. 
"(9) A policy issued to a duly organized national veterans' organi-
zation which has been organized and is maintained for purposes other 
<han tliat of obtaining insurance, which shall be deemed the policy-
holder, to insure members of such organization for the benefit of per-
sons other than the organization, or any of its officials, representatives, 
or agents, subject to the following requirements: 
"(a) The members eligible for insurance under the policy shall be 
all the members of the organization, or all of any class or classes 
thereof determined by conditions pertaining to their membership in 
the organization, or both. 
"(b) The premium for the policy shall be paid by the ])olicyholder 
Premiums. 
eitlier wholly from the organization's funds, or partly from such 
fluids and partly from funds contributed by tlie insured members 
specifically for their insurance, or from funds wholly contributed by 
the insured members specifically for their insurance. 
A policy on 
which any part or all of the premium is to be derived from funds 
contributed by the insured members specifically for their insurance 
may be placed in force only if at least 60 per centum of the then eligible 
members or a minimum of four hundred members, whichever is less, 
excluding any as to w^hom evidence of individual insurability is not 
satisfactory to the insurer, elecf to make the required contributions. 
A policy on which no part of the premium is to be derived from funds 
contributed by the insured members specifically for their insurance 
must insure all eligible members, or all except any as to whoui e\idence 
of individual insurability is not satisfactory to the insurer. 
"(c) The policy must coA-er at least twenty-five members at date 
of issuance. 
"(d) The amounts of insurance under the policy must be based on 
Amounts. 
some plan precluding individual selection either by the members, or 
by the organization. 
No policy may be issued which i)rovides term 
insurance on any organization member wliich, together with any other 
term insurance under any group life insurance policy or policies, 
exceeds $20,000, unless 150 per centum of the annual compensation of 
such person exceeds $20,000, in which event all such term insurance 
shall not exceed $40,000. or 160 per centum of such annual compen-
sation, whichever is less. 
Approved October 23, 1962.