1 So in original . 3051 ƒ -33-81 Post, p. 1284. Policy, when void . Ante, p. 1280. SEC . 1165. TRANSFER . FrER Lo ss .-A change of interest in a thing 'Transfer after loss . insured, after the occurrence of an injury which results in a loss, does not a ffect the right of the insured to Indemnity for the loss . SEC . 1166. ExcEPTION IN THE CA SE OF SEV ER AL SUBJE CTS IN ONE Exception where sev- eral subjects in one PoLIcy.-A change of int er est in one or m ore of several dis ti nct policy . thi ngs , sep ar ate ly in su red by one policy, does not avoid the insur- ance as to the o thers . SEC . 1168. IN THE CASE OF TRANSFER BE'T'WEEN COTENANTS . -A trans- Transfer between co- r fer of interest by one of several partners, joint owners, or owners tenants . in common, who are jointly insured, to the others, does not avoid an insurance, even though it has been agreed that the insurance shall cea se up on an alienation of the thing insured . Cross REFERENCE Insurance by partner or cotenant, see section 1197 . SEC . 1169 . POLICY, wHEN vomD .-E ve ry stipulation in a policy of insurance for the payment of loss whether the person insured has or has not any interest in the property insured, or th at the policy sha ll be received as pro of of such inte rest and e very polic y exe cuted by way of gaming or wagering, is void . CROSS R
CE Insurance without interest is illegal, see section 1162 . Concealment and CONCEA LMENT AND REPRE SENT ATION S
repre senta tion s. SE C. 1170. CONCE ALMEN T, WH AT .-A neglect to communicate that Concealment, do- which a party knows, and ought to communicate, is called a co n- cealment . Cross REFERENCE "Party " refers to either party to the contract, see section 1172 . SEC . 1171 . E1rrECT OF CONCEALMENT.-A concealment, whether in- Effect of . tentional or unintentional, entitles the injured party to rescind a contract of insurance . SE C. 1172 . WHAT MUST BE DISCLOSED .-Each party to a contract of clƒ whet must be di e. insur ance must commu nicat e to the o ther, in g ood f aith, all facts within his knowledge which are or which he believes to be material to the contract, and which the other has not the means of ascertain- ing ,,~ and as to wh ich he mak es no warr anty . SEC . 1 17 3 . MATTERS WHICH NEED NOT BE COMMUNICATED WITHOUT Matters which need INQUIRY.-Neither party to a contract of insu rance is b ound to not be communicated . communicate information of the matters following, except in answer to the inquiries of the other : 1 . Those which the other knows ; 2. Those which, in the exercise of ordinary care, the other ought to know, and of which the former has no reason to suppose him ignor ant ; 3 . Those of which the other waives communication ; 4. Those which prove or tend to prove the existence of a risk exc lu ded by a warranty, and which are not otherwise material ; and 72d CON GRESS . SESS . II. CH. 128. FEBR UARY 27, 1933. 1281 CrossREFERENCES Transfer by coowner or partner, see section 1168 . Transfer by operation of law, see section 1167 .1 Transfer of life-insurance policy, see section 1247. Post, p . 1289. Transfer of thing insured does not transfer policy, see section 1200 . Post, p . 1284.
