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U.S. Code as of:
01/03/05
Section 8709. Insurance policies
(a) The Office of Personnel Management, without regard to section
5 of title 41, may purchase from one or more life insurance
companies a policy or policies of group life and accidental death
and dismemberment insurance to provide the benefits specified by
this chapter. A company must meet the following requirements:
(1) It must be licensed to transact life and accidental death
and dismemberment insurance under the laws of 48 of the States
and the District of Columbia.
(2) It must have in effect, on the most recent December 31 for
which information is available to the Office, an amount of
employee group life insurance equal to at least 1 percent of the
total amount of employee group life insurance in the United
States in all life insurance companies.
(b) A company issuing a policy under subsection (a) of this
section shall establish an administrative office under a name
approved by the Office.
(c) The Office at any time may discontinue a policy purchased
from a company under subsection (a) of this section.
(d)(1) The provisions of any contract under this chapter which
relate to the nature or extent of coverage or benefits (including
payments with respect to benefits) shall supersede and preempt any
law of any State or political subdivision thereof, or any
regulation issued thereunder, which relates to group life insurance
to the extent that the law or regulation is inconsistent with the
contractual provisions.
(2) For the purpose of this section, "State" means a State of the
United States, the District of Columbia, the Commonwealth of Puerto
Rico, and a territory or possession of the United States.
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