North Carolina § 58-58-70 - Insurable interest as between stockholders, partners, etc.
Full text of North Carolina North Carolina General Statutes § 58-58-70 — Insurable interest as between stockholders, partners, etc., with citation guidance and answers to common questions.
§ 58-58-70. Insurable interest as between stockholders, partners, etc.
Where two or more persons have heretofore contracted or hereafter contract with one another for the purchase, at the death of one, by the survivor or survivors, of the stock, share or interest of the deceased in any corporation, partnership or business association of any kind, the person or persons making the contract of purchase shall be deemed to have, and are hereby declared to have, an insurable interest in the life or lives of the person or persons contracting to sell. History (1941, c. 201; 1969, c. 751, s. 44.) Editor's Note. - Session Laws 2001-436, s. 2, effective April 1, 2002, divided Article 58 into Parts 1 to 4, assigning a Part head to each Part, with G.S. 58-58-1 to 58-58-40 in Part 1, G.S. 58-58-45 to 58-58-65 in Part 2, G.S. 58-58-70 to 58-58-120 in Part 3, and G.S. 58-58-125 to 58-58-170 in Part 4, reserving G.S. 58-58-175 to 58-58-195 for future codification purposes. Legal Periodicals. - For comment on this section, see 19 N.C.L. Rev. 490 (1941).
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 58-58-70
What does North Carolina General Statutes § 58-58-70 cover?
Section 58-58-70 ("Insurable interest as between stockholders, partners, etc.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 58-58-70?
A common citation format is "North Carolina General Statutes § 58-58-70" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 58-58-70 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.