Alabama Statutes
§ 27-41-25 — Particular Investments - Policy Loans
Alabama·Title 27 Insurance·Ch. 41 Investments of Domestic Insurers and Health Maintenance Organizations
A life insurer may lend to its policyholder upon the security of the policy any sum not exceeding the cash surrender value of the policy or may lend against pledge or assignment of any of its supplementary contracts or other contracts or obligations so long as the loan is adequately secured by such policy contracts.
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Legislative History
(Acts 1977, No. 408, p. 530, §25.)