| (A) for payment of the benefit in certain stipulated merchandise and burial service, which shall be
scheduled in the policy or certificate and approved by the State Board of Insurance as being of the reasonable value as stated in the face of the policy, unless the insured shall at the time said policy is issued elect to have same paid in cash. The policy shall show in writing the election made. If the association issuing said policy shall fail or refuse to furnish the merchandise and services provided for in the policy, the same shall be paid in cash; and (B) that if a burial association is not given the opportunity to provide the merchandise and services stipulated in the policy, it shall be required to pay not less than the total amount paid into its mortuary fund for account of said policy in lieu of the stipulated merchandise and services unless a greater percent of the face value is specified in the policy. (20) Each policy and application therefor shall contain language in type no smaller than that used for the benefit provisions of the
policy to the effect that the company reserves the right to adjust premium rates by classes in accordance with the company's experience under the type of policy involved. (d) Health, accident and hospitalization policy forms. (1) Each form must be designated by a suitable form number which may be composed of numbers or letters or both. The form number shall be sufficient to distinguish the form from all others used by the company. When any word, provision, format, or arrangement of a previously approved form is changed, a new form number must be assigned and the form submitted for approval. A mere reprinting need not be resubmitted. (2) The following shall appear at the top of each form: (A) the name of the company or association; (B) the location of the principal office of the company or association; and (C) the type of company or association, such as: "A Local
Mutual Aid Association," "A Local Mutual Burial Association," or "A Statewide Mutual Assessment Corporation." (3) The provisions of all health, accident, and hospitalization policies shall be in compliance with the Insurance Code, Articles 3.70-1-3.70.10, and in compliance with the provisions of the Insurance Code, Chapter 14. In the event of a conflict, the provisions of Articles 3.70-1-3.70-10 control. (4) No policy nor the application therefor may contain any statement to the effect that the policy is either "noncancellable" or "guaranteed renewable" unless it also states in the same part, section, or provision and in the same size and kind of type that the company reserves the right to adjust premium rates by classes in accordance with its experience under the type of policy involved and in conformity with the Insurance Code. (5) Each policy shall contain language in type no smaller than that used for the standard provisions
of the policy to the effect that the company reserves the right to adjust premium rates by classes in accordance with the company's experience under the type of policy involved and in accordance with the Insurance Code, Article 14.23, and each application shall state that the insurer is a mutual assessment company.
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