Insurance Code § 283
ARTICLE 4. Insurable Interest: Generally
A mere contingent or expectant interest in anything, not founded on an actual right to the thing, nor upon any valid contract for it, is not insurable.
ARTICLE 4. Insurable Interest: Generally
A mere contingent or expectant interest in anything, not founded on an actual right to the thing, nor upon any valid contract for it, is not insurable.