New Mexico Statutes
§ 59A-9-15 — Policy loans
A life insurer may lend to its policyholder or annuity contract holder, upon pledge of the policy or contract as collateral security, any sum not exceeding the cash surrender value of the policy or contract, 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 pledge or assignment.
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New Mexico § 59A-9-15 (Policy loans) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Laws 1984, ch. 127, § 148.
Nearby Sections
15
§ 59A-1-1
Short title§ 59A-1-10
"Person"; "individual"§ 59A-1-11
"State"§ 59A-1-12
Superintendent§ 59A-1-13
"Transacting insurance"§ 59A-1-14
Compliance required§ 59A-1-16
Exempted from code§ 59A-1-17
Particular provisions prevail§ 59A-1-18
General penalty§ 59A-1-2
Definitions§ 59A-1-3
"Insurance Code"§ 59A-1-4
Repealed§ 59A-1-5
"Insurance"