Commonwealth Consolidated Acts

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MARINE INSURANCE ACT 1909 - SECT 21

Assignment of interest

                   Where the assured assigns or otherwise parts with his or her interest in the subject-matter insured, he or she does not thereby transfer to the assignee his or her rights under the contract of insurance, unless there be an express or implied agreement with the assignee to that effect.

But the provisions of this section do not affect a transmission of interest by operation of law.


 



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