Insurance Code § 1881
ARTICLE 1. Insurable Interests Peculiar to Marine Insurance
The insurable interest of the owner of a ship hypothecated by bottomry is only the excess of its value over the amount secured by bottomry.
ARTICLE 1. Insurable Interests Peculiar to Marine Insurance
The insurable interest of the owner of a ship hypothecated by bottomry is only the excess of its value over the amount secured by bottomry.