Michigan Compiled Laws § 500.3462 Third Party Ownership Of Policy.

500.3462 Third party ownership of policy.

Sec. 3462.

The word “insured”, as used in this chapter, shall not be construed as preventing a person other than the insured with a proper insurable interest from making application for and owning a policy covering the insured or from being entitled under such a policy to any indemnities, benefits and rights provided therein.

History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218

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Last modified: October 10, 2016