California Law (Last Updated: March 4, 2014) |
Insurance Code - INS |
Division 1. GENERAL RULES GOVERNING INSURANCE |
Part 1. THE CONTRACT |
Chapter 2. Parties, Events, and Interests |
ARTICLE 4. Insurable Interest: Generally |
Section 286.
Latest version.
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An interest in property insured must exist when the insurance takes effect, and when the loss occurs, but need not exist in the meantime; an interest in the life or health of a person insured must exist when the insurance takes effect, but need not exist thereafter or when the loss occurs.
(Amended by Stats. 1935, Ch. 308.)