§431:10-204  Insurable interest required;
personal insurances.  (a)  Any individual of competent legal capacity may
procure or effect an insurance contract upon the individual's own life or body
for the benefit of any person.



(b)  No person shall procure or cause to be
procured any insurance contract upon the life or body of another individual
unless the benefits under the contract are payable to the individual insured or
the insured's personal representatives, or to a person having, at the time the
contract was made, an insurable interest in the individual insured.



(c)  If the beneficiary, assignee or other
payee under any contract made in violation of this section receives from the
insurer any benefits under the contract accruing upon the death, disablement or
injury of the individual insured, the individual insured or the insured's
personal representative may maintain an action to recover the benefits from the
person so receiving them. [L 1987, c 347, pt of §2]