Article 17 (Actual total loss)
1. If, in case of total loss of the subject-matter of the insurance, the Company pay the whole of the sum insured, the company shall acquire all the right on the subject-matter of the insurance but if the sum insured is less than the value of the subject-matter of the insurance the Company shall acquire the right in the proportion which the sum insured bears to the value.
2. In case of the preceding paragraph, if the Company indemnifies the loss or damage with the declaration of intention not to acquire the right, the subject-matter of the insurance shall belong to the insured.