Section 282 Of Article 4. Insurable Interest: Generally From California Insurance Code >> Division 1. >> Part 1. >> Chapter 2. >> Article 4.
282
. An insurable interest in property may consist in:
1. An existing interest;
2. An inchoate interest founded on an existing interest; or,
3. An expectancy, coupled with an existing interest in that out of
which the expectancy arises.