The operation of a blood supply plan, on a nonprofit, community service basis, for the purpose of promoting and encouraging the donation of human blood for medicinal and transfusion uses may or may not constitute the writing of insurance. However, an agreement between such a nonprofit organization promoting and encouraging such blood donation and one or more of its donors by which the nonprofit organization agrees to pay the cost, or a part thereof, of supplying transfusion blood to such donor or designated members of his family shall constitute a contract of insurance.
This form of insurance will be governed only by this chapter.