Maine Statutes
§ 24-A §1158 — Policy loans
Maine § 24-A §1158
JurisdictionMaine
Title 24-AMAINE INSURANCE CODE
Ch. 13-AINVESTMENTS OF LIFE INSURERS AND LIFE AND HEALTH INSURERS
This text of Maine § 24-A §1158 (Policy 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 §1158 (2026).
Text
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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Legislative History
PL 1987, c. 399, §14 (NEW).
Nearby Sections
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§ 24 §1
Insurance contract§ 24 §1002
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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 §1158, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/24-A%20%C2%A71158.