Each warehouseman shall be required to carry one hundred percent fire, combustion and lightning insurance and fifty percent tornado insurance on the value of the products in storage, under policies issued by insurance companies authorized to do business in New Mexico, payable to the warehouseman and his bondsman as their interests may appear.
History: Laws 1941, ch. 145, § 5; 1941 Comp., § 53-905; 1953 Comp., § 50-9-5.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 78 Am. Jur. 2d Warehouses §§ 157 to 167, 184 to 200.
Liability of warehouseman for damage to, or destruction of, property by fire, 16 A.L.R. 280.
Right in proceeds of insurance taken out by warehouseman on goods stored, 53 A.L.R. 1409.
Right of owner to sue on fire policy taken out by warehouseman, 61 A.L.R. 720.
Right of owner to enforce insurance policy taken out by warehouseman, 81 A.L.R. 1271, 148 A.L.R. 359.
Farmowners' liability insurance risks and coverage, 93 A.L.R.3d 472, 31 A.L.R.4th 957, 33 A.L.R.4th 983, 34 A.L.R.4th 761, 35 A.L.R.4th 1063.
93 C.J.S. Warehousemen and Safe Depositaries §§ 34, 40, 41, 61.
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