South Australian Consolidated Acts South Australian Consolidated Acts12—Implication of certain words
The words "that the grantor will insure" in any bill of sale executed before
the registration commencement time imply that the grantor will immediately
insure and, so long as any money remains due on the security of the
bill of sale, keep insured in some public insurance office, to be approved of
by the grantee, against loss or damage by fire, in the name of the grantee,
the personal chattels comprised in the bill of sale to the full amount secured
by the bill of sale, and will hand over to the grantee the policy of insurance
and produce to the grantee the receipts for the annual or other periodical
premiums payable on account of insurance, and that all money payable by virtue
of the insurance will be received by the grantee towards satisfaction of the
money due on the security, and that if default is made by the grantor in
effecting or keeping on foot the insurance it will be lawful for, but not
obligatory upon, the grantee (without prejudice to any other remedy) to insure
the personal chattels, and the money paid on account of insurance will be a
charge on the personal chattels.