Insurance Law 1406 — Legislation
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SECTION 1405
Investments of life insurers
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ARTICLE 14
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SECTION 1407
Non-reserve and prohibited investments for property/casualty and certain other insurers
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SECTION 1406
Policy loans
Insurance (ISC) CHAPTER 28, ARTICLE 14
§ 1406. Policy loans. (a) Any life insurance company may lend to any
policyholder upon the security of the value of his policy a sum not
exceeding the legal reserve which it is required to maintain thereon.
(b) A fraternal benefit society may make similar loans subject to the
provisions of article forty-five of this chapter.