The association issuing such policy may show the actual value of said property at date of policy, and any depreciation in the value thereof before the loss occurred; but the said association shall be liable for the actual value of the property insured at the date of the loss, unless such value exceeds the amount of insurance stated in the policy.
[C24, 27, 31, 35, 39, § 9050; C46, 50, 54, 58, 62, § 518.24; C66, 71, 73, 75, 77, 79, 81, § 518A.24]
Similar provision, § 515.97
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