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  • SECTION 1405
    Investments of life insurers
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  • ARTICLE 14
    Investments
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  • SECTION 1407
    Non-reserve and prohibited investments for property/casualty and certain other insurers
    • Viewing most recent revision (from 2014-09-22)

    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.