N.J.S.A. 17:35-11 — Eligibility for insurance; insurable interest; assignment

17:35-11. Eligibility for insurance; insurable interest; assignment No corporation transacting the business of life insurance under this article shall issue a certificate or policy upon the life of any person more than sixty years of age, except in case of transfer of policyholders as provided herein, nor upon any life in which the beneficiary named has no legal insurable interest. Any assignment of the policy or certificate to a person having no insurable interest in the insured's life shall render the policy or certificate void.

This is the verbatim text of N.J.S.A. 17:35-11, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.