58-10-8. Insurable interest in property defined.
"Insurable interest" as used in §§58-10-7 and 58-10-9 means any actual, lawful, and substantial economic interest in the safety or preservation of the subject of the insurance free from loss, destruction, or pecuniary damage or impairment.
Source: SL 1966, ch 111, ch 22, §6 (2).