New South Wales Consolidated Acts

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COMMUNITY LAND MANAGEMENT ACT 1989 - SECT 43

Insurance generally

43 Insurance generally

(1) Despite section 23 of the Imperial Acts Application Act 1969 or any other law relating to insurance, an association has an insurable interest in the subject-matter of any insurance it is required by this Division to maintain.
(2) A member of an association may bring against the association any action that could have been brought if the member had not been a member.
(3) An insurer of an association has no right of subrogation in respect of a member of the association based on an act or omission of the member unless it is proved that the act or omission was wilful.
(4) Despite anything in a contract of insurance effected by the proprietor of a lot, that insurance--
(a) does not affect, and
(b) is not to be taken into consideration in determining,
the amount payable under a policy of insurance entered into by an association under this Division.



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