(1) Each of the parties be at least eighteen years old;

(2) Neither of the parties be married nor a party to another reciprocal beneficiary relationship;

(3) The parties be legally prohibited from marrying one another under chapter 572;

(4) Consent of either party to the reciprocal beneficiary relationship has not been obtained by force, duress, or fraud; and

(5) Each of the parties sign a declaration of reciprocal beneficiary relationship as provided in section 572C-5. [L 1997, c 383, pt of §1]