Civil Code (Cap. 16)
Civil Code (Cap. 16), article 377
377. (1) Where the subject of the usufruct is a ship and the
usufructuary has failed to insure her, he shall be liable for t he loss
of the ship and for average.
(2) If the ship was insured, the usufructuary is discharged, to
the extent of the insurance, by assigning to the owner his righ ts of
action against the insurers, the premium remaining payable by t he
usufructuary.
§ III. OF THE MANNER IN WHICH USUFRUCT TERMINATES
Termination of
usufruct.
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