A person shall not procure or cause to be procured or effected a policy upon the life of another individual unless the benefits under the policy are payable to the insured, to the personal representative of the insured's estate, or to a person having, at the time the policy is issued, an insurable interest in the individual insured.L. 2011: Entire part added, (SB 11-182), ch. 227, p. 973, §1, effective May 27.
Colorado Legal Code