(a) A life insurer may lend to its policyholder on the policy as collateral security an amount not exceeding the cash surrender value of the policy.
(b) A policy loan is an eligible reserve investment of a life insurer.
Structure Maryland Statutes
Title 5 - Assets, Liabilities, Reserves, and Investments of Insurers
Subtitle 5 - Investments of Life Insurers
Section 5-501 - Scope of Subtitle
Section 5-502 - Investments of Foreign or Alien Life Insurers
Section 5-503 - Date When Eligibility of Investment Determined
Section 5-504 - General Qualifications of Investments
Section 5-505 - Authorization of Investments and Loans
Section 5-506 - Prohibited Investments and Loans
Section 5-507 - Investment in One Person
Section 5-509 - Foreign Investments
Section 5-510 - Investment Requirements
Section 5-511 - Classes of Reserve Investments
Section 5-512 - Separate Investment Accounts for Funding Qualified Plans