Queensland Consolidated Acts Queensland Consolidated ActsWhere a building is destroyed or damaged by fire a person who has granted a policy of insurance for insuring it against fire may, and shall, on the request of a person interested in or entitled to the building, cause the money for which the building is insured to be laid out and expended, so far as it will go, towards rebuilding, reinstating, or repairing the building, unless—
(a) the person claiming the insurance money within 30 days next after the person’s claim is adjusted, gives sufficient security to the person who has granted that policy that the insurance money will be so laid out and expended; or
(b) the insurance money is in that time settled and disposed of to and amongst the contending parties to the satisfaction and approbation of the person who has granted the policy of insurance.