1. (1) The words “Industrial Policy” are printed upon the policy as a part of the descriptive matter, or
2. (2) When submitted to the Commissioner, it is accompanied by a written certificate, over the signature of an executive officer of the company, to the effect that such policy will be issued on such basis only.

“Industrial Insurance” means that form of disability insurance embodied in a disability policy which is issued on an industrial debit basis and which provides, at issue, either: (a) that premiums are payable weekly, or (b) that premiums are payable monthly at a rate not greater than $15.00 per person insured per month.

It shall be presumed for the purposes of this Article that a policy will not be issued on an industrial debit basis unless: