33-24-4
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33-24-4.
(a)
As used in this Code section, 'insurable interest' means any actual, lawful, and
substantial economic interest in the safety or preservation of the subject of
the insurance free from loss, destruction, or pecuniary damage or impairment.
(b)
No insurance contract on property or of any interest therein or arising
therefrom shall be enforceable except for the benefit of persons having, at the
time of the loss, an insurable interest in the things insured.
(c)
The measure of an insurable interest in property is the extent to which the
insured might be damnified by loss, injury, or impairment of such interest in
such property.