Maine Statutes
§ 24-A §1123 — Collateral loans
Maine § 24-A §1123
This text of Maine § 24-A §1123 (Collateral loans) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Me. Rev. Stat. tit. 24-A, § 24-A §1123 (2026).
Text
An insurer may lend and thereby invest its funds upon the pledge of securities eligible for investment under this chapter. As at date made, no such loan shall exceed in amount 90% of the market value of such collateral pledged. The amount so loaned shall be included pro rata in determining the maximum percentage of funds permitted under this chapter to be invested in the respective categories of securities so pledged.
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Legislative History
PL 1969, c. 132, §1 (NEW).
Nearby Sections
15
§ 24 §1
Insurance contract§ 24 §1002
Formation of corporation; guaranty fund; authority to write business; liability of policyholder§ 24 §1004
Assigned risks; reinsurance§ 24 §1008
Calls for payments; proceeds§ 24 §1012
Annual report; examinations§ 24 §1013
Filing fees§ 24 §1051
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Bluebook (online)
Maine § 24-A §1123, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/24-A%20%C2%A71123.