Section 1881.

Cal. Insurance Code - INS § 1881.
in effect
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The insurable interest of the owner of a ship hypothecated by bottomry is only the excess of its value over the amount secured by bottomry.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026

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Cal. Insurance Code - INS § 1881. — Section 1881 | Insurance Code - INS | Corpus