Third-party ownership of individual sickness and accident insurance policies

10-16-206. Third-party ownership of individual sickness and accident insurance policies. The word insured, as used in part 1 of this article and this part 2, shall not be construed as preventing a person other than the insured with a proper insurable interest from making application for and owning a policy covering the insured or from being entitled under such a policy to any indemnities, benefits, and rights provided therein. Source: L. 92: Entire article R&RE, p. 1670, � 1, effective July 1. Editor's note: This section is similar to former � 10-8-108 as it existed prior to 1992.