§ 33-15-207

33-15-207. Insurance without interest or of wager -- void. (1) Every stipulation in a policy of insurance of property for the payment of loss without regard to absence of an insurable interest in such property on the part of the insured or that the policy shall be received as proof of such interest is void. (2) Every policy executed by way of gaming or wagering is void. History: En. Sec. 266, Ch. 286, L. 1959; R.C.M. 1947, 40-3709.