Maine Statutes
§ 24-A §1158 — Policy loans
Maine·Title 24-A MAINE INSURANCE CODE·Ch. 13-A INVESTMENTS OF LIFE INSURERS AND LIFE AND HEALTH INSURERS
A life insurer may lend to its policyholder, upon pledge of the policy as collateral security, 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, as long as the loan is adequately secured by that pledge or assignment. Loans so made are eligible investments of the insurer.
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Maine § 24-A §1158 (Policy loans) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
PL 1987, c. 399, §14 (NEW).
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