§ 58-58-80. Insurable interest in life and physical ability of partner. - North Carolina Statutes

§58‑58‑80.  Insurable interest in life and physical ability ofpartner.

Any partner has an insurableinterest in and the right to insure the physical ability or the life, or boththe physical ability and the life, of any other partner or partners who are membersof the same partnership for his benefit, either alone or jointly with anotherpartner or partners of the same partnership. A partnership has a like insurableinterest in and the right to insure the physical ability or the life, or boththe physical ability and the life, of one or more partners of the partnership. (1951,c. 283, s. 2.)