§12A-2-501.

§12A-2-501.
   
   (1) The buyer obtains a special property and an insurable interest in
   goods by identification of existing goods as goods to which the
   contract refers even though the goods so identified are nonconforming
   and he has an option to return or reject them. Such identification can
   be made at any time and in any manner explicitly agreed to by the
   parties. In the absence of explicit agreement identification occurs
   
   (a) when the contract is made if it is for the sale of goods already
   existing and identified;
   
   (b) if the contract is for the sale of future goods other than those
   described in paragraph (c), when goods are shipped, marked or
   otherwise designated by the seller as goods to which the contract
   refers;
   
   (c) when the crops are planted or otherwise become growing crops or
   the young are conceived if the contract is for the sale of unborn
   young to be born within twelve (12) months after contracting or for
   the Sale of crops to be harvested within twelve (12) months or the
   next normal harvest season after contracting whichever is longer.
   
   (2) The seller retains an insurable interest in goods so long as title
   to or any security interest in the goods remains in him and where the
   identification is by the seller alone he may until default or
   insolvency or notification to the buyer that the identification is
   final substitute other goods for those identified.
   
   (3) Nothing in this section impairs any insurable interest recognized
   under any other statute or rule of law.