§1158. Policy loans
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. [PL 1987, c. 399, §14 (NEW).]
SECTION HISTORY
PL 1987, c. 399, §14 (NEW).
Structure Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 13-A: INVESTMENTS OF LIFE INSURERS AND LIFE AND HEALTH INSURERS
24-A §1152. Eligibility of investments
24-A §1153. General qualifications
24-A §1154. Authorization; record of investments
24-A §1156. Reserve and other investments
24-A §1157. Investment in subsidiaries
24-A §1159. Special investments; separate accounts
24-A §1160. Prohibited transactions and investment underwriting
24-A §1161. Investments of foreign insurers