Sec. 3462. The word "insured", as used in this chapter, shall not be construed as preventing a person other than the insured with a proper insurable interest from making application for and owning a policy covering the insured or from being entitled under such a policy to any indemnities, benefits and rights provided therein.
Third party ownership of policy.
Mich. Comp. Laws § 500.3462, under THE INSURANCE CODE OF 1956.
Mich. Comp. Laws § 500.3462