44-601. Over-insurance; policies for more than five years prohibited.

It shall be unlawful for any insurance company or any agent to knowingly issue any fire insurance policy upon property within this state for an amount which, with any existing insurance, exceeds the fair value of the property or of the interest of the insured therein, or for a longer time than for five years, except as provided in section 44-812.

Source:Laws 1913, c. 154, § 109, p. 454; R.S.1913, § 3246; Laws 1919, c. 190, tit. V, art. VIII, § 1, p. 634; C.S.1922, § 7845; C.S.1929, § 44-701; R.S.1943, § 44-601.