North Dakota Code 26.1-29-04 – Insurable interest defined and classified
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An insurable interest is an interest in property, or any relation thereto, or liability in respect thereof, of such a nature that a contemplated peril might damnify directly the insured, and may consist in:
Terms Used In North Dakota Code 26.1-29-04
- Property: includes property, real and personal. See North Dakota Code 1-01-49
1. An existing interest; 2. An inchoate interest founded on an existing interest; or
3. An expectancy coupled with an existing interest in that out of which the expectancy arises.