Third party ownership

The word "insured" as used in this section and §§ 23-85-101 , 23-85-102 , and 23-85-104 - 23-85-131 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. Acts 1959, No. 148, § 414; A.S.A. 1947, § 66-3629. The word "insured" as used in this section and §§ 23-85-101 , 23-85-102 , and 23-85-104 - 23-85-131 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. Acts 1959, No. 148, § 414; A.S.A. 1947, § 66-3629.