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§1406 . Policy loans.
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(a) Any life insurance company may lend to any policyholder upon the security of the value of his policy a sum not exceeding the legal reserve which it is required to maintain thereon.
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(b) A fraternal benefit society may make similar loans subject to the provisions of article 45 of this chapter. Source Data downloaded: 2009-04-10 09: 13: 56; Processed: 2009-05-08 15: 35: 50 |
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