511.39 Charitable organizations — insurable interest. A charitable organization described in section 501(c)(3) of the Internal Revenue Code, as defined in section 422.3, has an insurable interest in the life of a person who, whenpurchasing a life insurance policy, makes a donation to the charitable organization or makesthe charitable organization the beneficiary of all or a part of the proceeds of the policy orjoins with a charitable organization in applying for an insurance policy which when issuedwill insure that person’s life and name the organization as owner or beneficiary of all or anyportion of the benefits of the life insurance policy. 92 Acts, ch 1162, §16Referred to in §508E.13 Sat Dec 23 00:43:03 2023 Iowa Code 2024, Section 511.39 (17, 0)
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