20-1109

20-1109. Statements as representation; effect
of misrepresentation upon policy

All statements and descriptions in any application for an insurance policy or in
negotiations therefor, by or in behalf of the insured, shall be deemed to be
representations and not warranties. Misrepresentations, omissions, concealment of facts
and incorrect statements shall not prevent a recovery under the policy unless:

1. Fraudulent.

2. Material either to the acceptance of the risk, or to the hazard assumed by the
insurer.

3. The insurer in good faith would either not have issued the policy, or would not
have issued a policy in as large an amount, or would not have provided coverage with
respect to the hazard resulting in the loss, if the true facts had been made known to the
insurer as required either by the application for the policy or otherwise.