- (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.
Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 2001, c. 332, § 1, eff. Oct. 1, 2001.
Formerly Art. 48A, § 93.