§ 33-15-201 Restrictions on contracting for personal insurance — insurable interests — violation
§ 33-15-205 Restrictions on property insurance — interest
§ 33-15-206 Interest of named insured — change of interest on death — transfer
§ 33-15-207 Insurance without interest or of wager — void

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Terms Used In Montana Code > Title 33 > Chapter 15 > Part 2 - Insurable Interests

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
  • Property: means real and personal property. See Montana Code 1-1-205
  • Several: means two or more. See Montana Code 1-1-201