2006 New York Code - Marine Insurance; Acting As Agent, Broker Or Insurer Of Persons Without Insurable Interest.

 
    §  2125.  Marine  insurance;  acting  as  agent,  broker or insurer of
  persons without insurable interest.  (a) No person, firm, association or
  corporation shall knowingly act as insurance agent or act  as  insurance
  broker  in  this state, or shall as insurer knowingly act in this state,
  in the sale, solicitation or negotiation, issuance or  delivery  of  any
  binder,  cover note, certificate, policy or other evidence of a contract
  of marine insurance except on the application and in the  name  of  some
  person  or  persons  having  a  bona  fide interest, direct or indirect,
  either in the safe arrival of  the  vessel  in  relation  to  which  the
  contract  is made or to be made, or in the safety or preservation of the
  subject matter insured or to be insured, or except  on  the  application
  and  in the name of some person or persons having a bona fide reasonable
  expectation of acquiring such an interest.
    (b)  No  insurance  broker  or  other  person,  firm,  association  or
  corporation   not  having  such  a  bona  fide  interest  or  bona  fide
  expectation of acquiring such an interest, shall  knowingly  apply  for,
  effect, accept or transfer in this state any such evidence of a contract
  of  marine  insurance without having been previously authorized so to do
  by, or by the authority of, a person, firm, association  or  corporation
  having such a bona fide interest or a bona fide expectation of acquiring
  such an interest.