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Proof of loss or death — As to generally, see* "Loss and its
adjustment," this note.

Same — Forfeiture for failure to furnish within stipulated
time. — See 18 L. 85.

Same — Waiver of objections to want of. — See 1 L. 217; 7 L.
81, 83; 8 L, 77.

Proximate cause of loss, what is. — See 36 A. S. 852.

Real party in interest by whom action on insurance policy
may be brought. — See 64 L. 615.

Reference as to loss — Provision for. — See 11 L. 598.

Same — Waiver of. — See 11 L. 598.

Reforming policies of. — See 65 A. S. 514.

Reinstatement — After death. — See 14 L. 284.

Same — First and last days in computing time of payment of.
—See 49 L. 208.

Same — Of defrauded policy liy i)aymont of premium after
death.— See 14 L. 283.

'Reinsurance. — See Kerr's Cyc. C. C. S 2646 and note; also note
S 2646, post.

Same — And the remedies of the p;irtios thereunder. — See 45
A. S. 442.

Same — Liability of reinsurer. — See 8 L. N. S. S44-862.

Relative's insurable interest in life of another. — See note
54 L. 225-234.

Remedy for n-fusal to levy assessment. — See 1 1j. 146; 2 L.
786; 8 L. 115.

Rent, insurer eli^cting to rebuild not liable for. — See 26 L. 857.

Representation.s — By insured outside of his application as
evidence against beneficiary. — See 11 L. N. S. 92.

Same — Law governing, as to effect of misrepresentations in
application. — See 63 L. 864.

Same — Misstatements — In application, effect of. — See 7 L. 217;
10 L. 666.

1319



§ 2527 CIVIL, CODE. [Div.III.Pt.IV.

Same — Same — Or misrepresentations made or induced by in-
surer's agent. — See 8 L. 70.

Same — Morphinism of insured as affecting policy. — See 39 L.
265.

Same — Statements as to health and attendance of physician.
—See 10 L. 616.

Same — When may statements be regarded as, although ex-
pressly denominated in the policy as warranties. — See 11 L. N.
S. 981.

Repiv-ocntations and warranties. — See "Contract of — Con-
struction," this note.

Same — As to generally, see 16 A. D. 462; 1 L. 564; 7 L. 217;
8 Lr. 70; 10 L. 666; 39 L. 265; 63 L. 864.

Restrictions on, by unincorporated associations or individuals,
Lloyd associations. — See 25 L. 238.

Results and causes of loss for injury to property — Effect of
voluntary exposure to peril upon liability on marine insurance
policy.— See 1 L. N. S. 1095.

Same — Liability of insurance company in case of intentional
destruction of property by insured. — See 17 L. N. S. 189.

Same — Meaning of "cyclone," "tornado," or other kind of
wind storm in an insurance policy. — See 8 L. N. S. 308; 2 W.
& P. 1809; 8 W. & P. 7006.

Same — Right to recover under "sue and labor" clause in
marine insurance for moving cargo over land. — See 14 L. N.
S. 1161.

Retention of policy. — See 67 L. 708.

Riders or slips attached to insurance policies, effect of. —
See 30 L. 636.

Right of assessment company to change from assessment to
level policies. — See 1 L. N. S. 623.

Right of insurance agent to commissions on renewal pre-
miums after termination of agency. — See 7 A. C. 1169. ^

Right of insurance company to cease writing assessment
policies and restrict itself to legal reserve insurance. — See 4
A. C. 360, 361.

Right of insurer to subrogation. — See notes 30 A. D. 102; 44
A. S. 731-739.

Right of policy holder to inspect books of insurance company.
—See 11 L. N. S. 1089.

Right to proceeds, "heirs," who entitled as. — See 44 A. S. 404.

Right to rescind contract of insurance for default of other
party. — See 30 L. 69.

Risks incident to duty or necessity. — See 40 L. 437.

Sale or alienation of property, when avoids.- — See 28 A. D. 154.

Set-off in case of bankruptcy. — See 55 L. 49; 66 L. 72.

Severability of contract — Effect on insurance upon buildings
of forfeiture as to personal property. — See 19 L. 217.

Same — Fraud. — See 19 L. 218.

1320



TitXI.ch.I.art.I.] INSURANCE, GENERALLY. §2527

Same — Insurance — On buildings and contents. — See 19 L. 214.

Same — Same — On several articles of personal property. — See
19 L. 217.

Same — Same — On several buildings. — See 19 L. 212.

Same — Marine policies. — See 19 L. 218.

Same — Policies on live stock. — See 19 L. 218.

Same — When and when not severable. — See 8 L. 834.

Sickness, as total disability. — See 38 L. 537.

Situs for insurance for purposes of administration. — See 24
L. 687.

Statute of limitations — When begins to run against unpaid
balance on premium or "stock" notes of mutual insurance
company. — See 1 L. N. S. 914.

Stranger, right to take life insurance for benefit of. — See
25 L. 627.

Subagent, notice to, effect of. — See 21 L. 342.

Submission to arbitration. — See "Arbitration, subim.-.-Miii i.i, .
this note.

Subrogation — In action against third person who caus.il tl..'
loss, when insurer has paid loss. — See 2 L. N. S. 922.

Same — Insurer's right to. — See 44 A. S. 731.

Same — Of carrier to rights against insurer. — See 3 L. 426.

Same — Of insurer to rights of insured against carrier. — See
3 L. 426.

Same — Right of life or accident insurance company to. — See
18 L, N. S. 211.

Same — Rights of insurer to, to mortgagees when. — S<'e .S T>.
N. S. 79.

Successive insurers, liability of. — See 28 A. D. 121.

Suicide — As a defense — Conflict of laws as to. — See r.3 1^. si>..

Same — Same — Effect of provision avoiding policy after death
results from "sane or insane." — See 17 L. 89.

Same — Same — Statutes prohibiting defense of. — See 42 L. 260.

Same — Same — Under policy containing incontestable clause. —
See 42 L. 253.

Same — Insanity as affecting condition as to in policy — Gen-
erally, see 35 L. 258.

Same — Same — Degree of insanity which will excuse. — See 35
L. 259-262.

Same — Same — Determination as to existence of insanity. —
See 35 L, 263.

Same — Same — Pleadings. — See 35 L. 263.

Same — Same — Presumptions and burden of proof. — See 35
L. 263.

Same — Same — Proof as to insanity. — See 35 L. 264.

Same — Same — "Sane or insane." — See 35 L. 262.

Same — Retroactive effect of resolution or by-laws of mutual
insurance company changing period during which policy may
be contested for. — See 12 L. N. S. 504.

1321



§ 2527 CIVIL, CODE. [Div.III.Pt.IV.

Surplus — Distribution of upon dissolution of mutual insur-
ance company. — See 3 L. N. S. 653.

Temporary removal of property, effect of. — See 43 A. R. 34.

Title — Contract to convey, as breach of condition against
cliange of title or interest. — See 3 L. N. S. 107.

Same — Effect of bankruptcy or insolvency proceedings or
assignment for benefit of creditors on fire insurance policy. —
See 15 L. 829.

Sanie: — Effect of bond for title to defeat unconditional and
sole ownership. — ^See 5 L. N. S. 512.

Same — Effect of change of, generally, see 4 L. 539, 541; 9
L. 627; 11 L. 293.

Same — For purposes of insurance, of house on government
land under homestead entry, as within sole and unconditional
ownership of clause in insurance policy. — See 8 L. N. S. 903.

Same — How far an undivided interest in property is a com-
plete or full ownership for purposes of insurance. — See 18 L. 481.

Same — Mortgage as affecting change of in insured property.
—See 38 L. 562.

Same — Partnership interest. — See 18 L. 482.

Same — Transfer by one partner of his interest to other mem-
bers of firm as a prohibited change or alienation of interest. —
See 18 L. 482.

Same — Vendor's lien as affecting sole and unconditional own-
ership.— See 7 L. N. S. 627.

"Tornado," meaning of in insurance policy. — See 8 L. N. S.
308; 8 W. & P. 7006.

Total disability — As to what constitutes. — See 36 L. 529-539.

Same — Ability to attend to part of business. — See 38 L. 531.

Same — "Immediately," construed. — See 28 L. 538.

Same — "Per week" construed. — See 38 L. 539.

Transfer of policy or interest therein — As to generally, see
9 L. 660; 10 L. 259; 32 L. 482; 63 L. 858; 3 L. N. S. 935-952; 6
L. N. S. 128; 12 L. N. S. 1206.

Same — Effect on assignee of assignor's act of forfeiture. —
See 18 L. 136.

Transferees of policy or property as members of mutual fire
insurance company. — See 32 L. 482.

Ultra vires, defense of by insurance company in action on
a policy. — See 4 A. C. 1046.

Unauthorized insurance may be ratified. — See Kerr's Cyc. O.
C. § 2586 and note pars. 32, 33.

Undivided interest in property — How far is a complete or full
ownership for the purposes of insurance. — See 18 L. 481.

Same — Partnership interest. — See 18 L. 482.

Unexpected risks, effect of on provision as to voluntary ex-
posure to unnecessary danger. — See 40 L. 441.

Use of intoxicating liquors, scope and effect of provisions
in policies of insurance forbidding use of. — See 15 L. N. S. 206.

1322



Tit.X[,ch.I,art.I.] IXSURA2<ICE,. GENERALLY. §2527

Vacant — Building in process of erection as. — See 4 L. N. S.
1137.

Same — Effect of tenant's removal without insurer's knowl-
edge. — See 3 L. N. S. 966.

Same — Necessity of proof of increase of risk to avoid insur-
ance policy because of. — See 12 L. N. S. 456.

Same — When a building is "vacant" or "unoccupied" within
provision of policy. — See 2 L. N. S. 517; 8 W. & P. 719.

Vacancy and non-occupancy — Conditions against. — See 8 L.
79; 9 L. 81.

Same — "What constitutes occupancy of premises. — See 9 L. 82.

"Vacant and unoccupied," significance of these and like ex-
pressions. — See 10 A. S. 390.

Validity of contract of insurance in violation of statute. —
See 12 L. N. S. 612.

Validity of law imposing tax on insurance companies for
benefit of firemen. — See 13 L. N. S. 1147.

Validity of life insurance for benefit of betrothed wife. — See
19 L. 187.

Validity of oral contract of insurance. — See 6 A. C. 624.

Validity of parol assignment of insurance policy. — See 5 A.
C. 410.

Validity of provision of accident or health policy roriuiring
notice of accident or sickness within specified time. — See IS
L. N. S. 106.

Validity of statute providing that insurance contract shall
not be avoided for immaterial false warranty. — See 7 A. C. 1107.

Valued policy, conflict of laws as to. — See 63 L. 866.

Variance, application or insurance policy as governing in
case of. — See 11 A. C. 708.

Vendor and vendee — Respective rights in when part -of the
purchase price has been paid. — See 84 A. D. 429.

Same — Rights of to proceeds of fire insurance policy. — See
37 L. 150.

Vendor's lien as alTects sole and unconditional ownership. —
See 7 L. N. S. 627.

Voluntary exposure to peril — Upon liability on marine insur-
ance policy. — See 1 L. N. S. 1095.

Voluntary exposure to unnecessary danger — Consciousness of
dangers. — See 40 L. 434.

Same — Constructive comparison with negligence. — See 40 I>.
432..

Same — Proof of. as a defense. — See 40 L. 448.

Same — Risks incident to duty or necessity. — See 40 L. 437.

Same — Unexpected risks. — See 40 L. 441.

Same — What con.stitutes. — See 40 L. 442.

Wager policy of life Insurance. — See fl L. 137: 7 L. 217; 12
L. 409; 13 L. 434.

1323



§ 2527 CIVIL CODE. [Div.III,Pt.IV.

Waiver— By agent. — See 1 L. 217.

Same — By officer of subordinate lodge of forfeiture for non-
payment of assessment. — See 4 L. N. S. 421.

Same — By requiring further proof of loss. — See 9 A. S. 236.

Same — By subordinate lodge of right of benefit association to
insist upon forfeiture of benefit, cause of violation of the laws
of the association. — See 10 L. N. S. 136.

Same — Of conditions — Against other insurance. — See 27 A.
R. 601

Same — Same — In insurance policy by insurer's failure to in-
quire into existing facts. — See 9 A. C. 994.

Same — Same — Or defenses based thereon. — See 1 L. 222; 1
Li. 563; 8 L. 74.

Same — Same — Requiring waivers to be indorsed in writing. —
See 42 A. R. 621; 107 A. S. 99.

Same — Of forfeiture for nonpayment of premium. — See 1 L.
256; 9 L. 317; see "Forfeiture," this note.

Same — Of notice and statement of loss. — See 8 L. 76; 10 L. 558.

Same — Of objections to want of proof of loss or death. — See
1 L. 217; 7 L. 81, 83; 8 L. 77.

Same — Of proof of loss. — See 1 L. 217; 7 L. 81; 8 L. 77.

Same — Same — Of provisions for submission to arbitration. —
See 10 L. 558.

Same — Same — Submission to arbitration as. — See 10 L. 560.

Same — Of reference as to loss. — See 11 L. 599.

Same — Parol evidence, rule as to varying or contradicting
written contracts, as affected by doctrine of. — See 16 L. N. S.
1165-1284.

Same — Retention of policy as of mistake or fraud of insurer
or its agent. — ^See 67 L. 705-744.

Warranties — Admissions or statements by insured outside of
his application as evidence against beneficiary. — See 11 L. N.
S. 92.

Same — And representations and their effect. — See 16 A. D.
462; 59 A. R. 816.

Same — Effect of honest mistake in answer as to health of
insured, warranted by him to be true. — See 15 L. N. S. 1277.

Same— Effect of temporary condition which ceased before
loss, under general provisions against increase of risk, or
specific provisions against certain conditions. — See 10 L. N. S.
736.

Same — Of answers in application, effect of. — See 13 L. 263.

Same — What statements are. — See 1 L. 564.

Same — When may statements be regarded as representations,
although expressly denoininated in the policy as. — See 11 L.
N. S. 981.

When contract entire and when severable. — See 8 L. 834.

When contract of insurance is completed. — See 9 A. C. 220.

Wife's right to insure life of husband. — See 53 L. 817-825.

X324



Tit.XI,ch.I,art.II.] EVENTS INSURED AGAINST. §§ 2531, 2532



ARTICLE II.

WHAT MAY BE INSURED.

§ 2531. What events may be insured against.

§ 2532. Insurance of lottery or lottery pri/,<=> iin;iiitliniized.

§ 2533. Usual kinds of insui'ance.

§ 2534. All subject to this chapter.

§2531. AVIIAT EVENTS MAY BE INSURED A(iAI>ST.

Any contingent or unknown event, whether past or future,
which may damnify a person having an insurable interest,
or create a liability against him, may be insured against, sub-
ject to the provisions of this chapter.

Hi-story: Enacted March 21, 1872.

See Kerr's Cyc. C. C. for 5 pars, annotation.

107 C. 327, 330, 48 A. S. 140, 40 P. 431. 28 L. 692 (cited).

As to many miscellaneous matters as to insurance, see notes
§§ 414, 2527, ante.

Delivery of policy after loss. — See Kerr's Cyc. C. C. § 2586
and note par. 15.

Insurable interest, what. — See Kerr's Cyc. C. C. § 2546 and
note par. 2.

Wager policies — Common law as to. — See article 32 Alb. L.
J. 385, 403, reproduced as note in 52 A. R. 135-148.

§ 2532. INSURAM E OF LOTTERY OR LOTTERY PRIZE
UNAUTHORIZED. The preceding section does not authorize
an insurance for or against the drawing of any lottery, or
for or against any chance or ticket in a lottery drawing a
prize.

Ilistor.v: Enacted March 21, 1872.

As to many miscellaneous matters as to insurance, see notes
§§ 414, 2527, ante.

Lottery tickets, penal provisions against insuring. — See Kerr's
Cyc. Pen. C. § 324 and note.

1325



§§ 2533, 2534 CIVIL CODE. [Div.III,Pt.IV.

§ 2533. USUAL KINDS OF INSUKANCE. The most usual
kinds of insurance are:

1. Marine insurance;

2. Fire insurance;

3. Life insurance;

4. Health insurance; and,

5. Accident insurance.

Hi-story: Enacted March 21, 1872.

See Kerr's Cyc. C. C. for 6 pars, annotation.

As to many miscellaneous matters as to insurance, see notes
§§ 414, 2527, ante.

Assumption of policy by another company. — See Kerr's Cyc.
C. C. § 2527 and note par. 4.

Fire insurance. — See Kerr's Cyc. C. C. §§ 2753-2757 and notes.

Life and health insurance. — See Kerr's Cyc. C. C. §§ 2762-
2766 and notes.

Marine insurance. — See Kerr's Cyc. C. C. §§ 2655-2746 and
notes.

What is death by accidental means. — See 23 A. S. 641.

§ 2534. ALL SUBJECT TO THIS CHAPTER. All kinds of
insurance are subject to the provisions of this chapter.

HLstory: Enacted March 21, 1872.



1326



Tit.XI.ch.I.art.III.] parties. §§2538-2540

/

ARTICLE III.

PARTIES TO THE CONTRACT.

§ 2538. Dosig-nation of parties.

§ 2539. Who may insure.

§ 2540. Who may be insured.

S 2541. Assignment to mortgagee of thing insured.

§ 2542. New contract between insurer and assignee.

§2538. 1)ESIG\AT10X OF P.VRTIES. The person who
undertakes to indemnify another by a contract of insurance
is called the insurer, and the person indemnified is called
the insured.

IliNlory: Enacted March 21, 1872.

See Kerr's Cyc. C. C. for 4 pars, annotation.

As to many miscellaneous matters as to insurance, see notes
§§ 414, 2527, ante.

Insurance agents. — See Kerr's Cyc. C. C. § 2.")86 and note
pars. 1-4.

§2539. ^VHO MAY IXSI'RE. Any one capable of makinc;
a contract may be an insurer, subject to the restrictions
imposed by special statutes upon foreign corporations, non-
residents, and others.

IIlMtury: Kiiact.d Murt'h 21. 1872.

See Kerr's Cyc. C. C. for 2 pars, annotation.

As to many miscellaneous matters as to Insurance, see notes
§§414, 2527, ante.

Assumption of policy by anotlier company. — See Kerr's C.vc.
C. C. § 2527 and note par. I.

§2510. WHO MAY \iV INSri{KI). Any one except a i)ul.-
lic enemy may be insured.

HlHturyt Enacted March 21. 1872.

See Kerr's Cyc. C. C. for 4 pars, annotation.

As to many miscellaneous luatters as to insuraiu. . .-. v notes
§§ 414, 2527, ante.

Assignment of insiirnncf. policy. — .<=;iw K. rr"s Cyc. C. C. | 2599
and note.

1327



§§ 2541, 2542 CIVIL CODE. [Div.III.Pt.IV.

Consent of person whose life is insured as condition of
insurance. — See 56 L. 585.

Insurable interest, what. — See post § 2546.

Insurance on life of minor. — See 57 L. 496-506.

Insurable interest in life of parent or child or other relative
by blood. — See 54 L. 225-234.

§2541. ASSIGNMENT TO MOETGAGEE OF THING
INSUEKD. Unless the policy otherwise provides, where a
mortgagor of property effects insurance in his own name pro-
viding that the loss shall be payable to the mortgagee, or
assigns a policy of insurance to a mortgagee, the insurance
is deemed to be upon the interest of the mortgagor, who does
not cease to be a party to the original contract, and any act
of his, prior to the loss, which would otherwise avoid the
insurance will have the same effect, although the property
is in the hands of the mortgagee, but any act which, under the
contract of insurance, is to be performed by the mortgagor,
may be performed by the mortgagee therein named, with the
same effect as if it had been performed by the mortgagor.

History: Enacted March 21, 1872, amended by Code Commis-
sion, Act March 16, 1901, Stats, and Amdts. 1900-1, p. 416, held
unconstitutional, see history, § 4 ante; amendment re-enacted
March 21, 1905, Stats, and Amdts. 1905, p. 616; amended April
15, 1909, Stats, and Amdts. 1909, p. 914. In effect immediately.

See Kerr's Cyc. C. C. for 5 pars, annotation.

128 C. 16, 19, 79 A. S. 17, 60 P. 467 (applied); 136 C. 542, 547,
19 P. 253, 615 (cited in dis. op.); 148 C. 223, 226, 82 P. 964, 113
A. S. 223, 7 A. C. 396 (any act of owner which, by terms of
policy of insurance would be suflficient to avoid it as against
•owner, would prevent recovery by creditor whose debt is se-
cured by deed of trust of property insured, although he was
not aware of violation of its terms and did not consent thereto,
but this rule may be changed by clause in policy referring to
interest in favor of third persons).

As to many miscellaneous matters as to insurance, see notes
§§ 414, 2527, ante.

Assignment of insurance, when valid, and what constitutes. —
See 56 A. D. 747-755.

Assignment of policy. — See Kerr's Cyc. C. C. § 2599 and note.

§ 2542. NEW CONTRACT BETWEEN INSURER AND AS-

SIGNEE. If an insurer assents to the transfer of an insur-

1328



Tit.XI.ch.I.art.IV.] INSURABLE INTPmEST. 5 2546

ance from a inortRaKer to a mortgagee, and, at the time of
his assent, inii>oses further obligations on the assi;;nee. mak-
ing a new contract with him, the acts of the mortgager canuut
affect his rights.

HiM(or> : Eii;i( l<'(i .M;ti>ji .i, i ^ > -.

Ab to ni.Tny miscollanoous matters as to insurance, see notes
{| 414. 2527, ante.

As to negrotial)ility of policy of Insurance, see Kerr's Cye.
C. C. i 2S42, note.



AiniCIJO IV.

INSUUA15LK INTKREST.

I 2546. Insurable interest, what.

I 2547. In wliat may consist.

I 2548. Interest of carrier or depusltary.

I 2549. Mere expectancies.

I 2550. Measure of Interest In property.

i 2561. Insurance without Inti-rest, lllegul.

t 2562. When Interest must exist.

i 2553. PifTect of transfer.

I 2554. Transfer after loss.

i 2655. Excei)tlon In the case of several subjects in one policy.

I 2556. In case of the death of the Insurer.

I 2557. In the case of transfer between ro-tenanti«.

12558. Void Insurance stlpubiti

§2ril«. nSlRAHI-K IM'KHKSr. \MI\T. Kvery interest
in iM()i)prty, or any relation tlicreio, or lialiility in respt'ct
tliereof, of such a nature tliat a contemplated peril might
(lirerfly flamnifv the insured, is an insurable i?if<.r..<f

lllatiirri Enacted March 21. 1S7:

See Kerr's Cyc. C. C. for 7 pars, annotation.

1 C. A. 186, 188. 81 P. 1025 (cited to point of th.^-m ^tix. ...i.i-
est).

As to many miscellaneous matters as to insurance, sec notea
Si 414, 2627, ante.

Assli^nment of policy. — See Kerr's Cyc. C. C. I 269S and note.

Charterer of boat. — See Kerr's Cyc. C. C 1 2648 and note
pur. 2.

Expectancies. — See Kerr's Cyc C. C. | 2549 and n.>te.

1329



§§ 2547, 2548 CIVIL CODE. [Div.III,Pt.IV.

Husband's insurable interest in wife's property. — See 30 A.
S. 806.

Information as to nature of interest insured. — See Kerr's
Cyc. C. C. § 2568 and note.

Insurable interest in life of parent or child or other relative
by blood. — See 54 L. 225-234.

Insurable interest in property. — See 20 A. D. 510-518.

Interest of carrier or depositary. — See Kerr's Cyc. C. C. § 2548
and note.

Lessor's and lessee's insurable interest. — See 20 A. D. 514.

Life and health insurance — Insurable interest. — See Kerr's
Cyc. C. C. § 2763 and note.

Mortgagee's insurable interest. — See 54 A. D. 693-700.

Part owner — Insurance by. — See Kerr's Cyc. C. C. § 2590 and
note.

Policy — Specification of insurable interest in. — See Kerr's.
Cyc. C. C. § 2587 and note.

Purchaser's insurable interest under executory contract. —
See 30 A. D. 101, 102.

Sheriff's insurable interest in goods taken. — See 20 A. D. 516,
517.

Trustee's insurable interest. — See 20 A. D. 515.

Validity of life insurance to secure debt to insurer. — See 53
L. 462-465.

Wager policies — Common law as to. — See article 32 Alb. L.
J. 385, 403, reproduced as note in 52 A. R. 135-148.

§2547. IN WHAT MAY COXSIST. An insurable interest
in property may consist in: •

1. An existing interest;

2. An inchoate interest founded on an existing interest; or,

3. An expectancy, coupled with an existing interest in that
out of which the expectancy arises.

HLstory: Enacted March 21, 1872.

See Kerr's Cyc. C. C. for 2 pars, annotation.

As to many miscellaneous matters as to insurance, see notes
§§ 414, 2527, ante.

Insurable interest — What constitutes. — See Kerr's Cyc. C. C.
§ 2546 and note.

§2548. INTEREST OF CARRIER OR DEPOSITARY. A

carrier or depositary of any kind has an insurable interest
in a thing held by him as such, to the extent of its value.

History: Enacted March 21, 1872.
1330



» Tit.XI.ch.l.sirt.lV.] MHUK EXPKCTAN<"Ii:s. §5 2549-2r.52

See Kerr's Cyc. C C. for 3 pars, annotation.

As to many mlscpllaneous matters as to insurance, see notes
li 414, 2527, ante.

Insuralilc interest of consii^nee or bailee. — -Ste 2(i A. I). 515.
516.

§2r>4«. .MKHE EXl'KCTAM'IES. A mere contingent or
expectant interest in anything, not fotinded on an actual right
to the thing, nor u|)on any valid contract for it. is not insur-
able. ■

IIiNli>r>: Knacted March 21. 1S72.



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