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§ 3605. Insurable interest with respect to property insurance

Oklahoma Statutes AnnotatedTitle 36. Insurance

Oklahoma Statutes Annotated
Title 36. Insurance (Refs & Annos)
Chapter 1. Insurance Code (Refs & Annos)
Article 36. The Insurance Contract in General
36 Okl.St.Ann. § 3605
§ 3605. Insurable interest with respect to property insurance
Currentness
A. No insurance contract on property or of any interest therein or arising therefrom shall be enforceable as to the insurance except for the benefit of persons having an insurable interest in the things insured.
B. “Insurable interest” as used in this section 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.
C. The measure of an insurable interest in property is the extent to which the insured might be damnified by loss, injury, or impairment thereof.

Credits

Laws 1957, p. 363, § 3605, operative July 1, 1957.
36 Okl. St. Ann. § 3605, OK ST T. 36 § 3605
Current with emergency effective legislation through Chapter 125 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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