N.Y. ISC Law § 1406
This is the official text of N.Y. ISC Law § 1406, part of New York’s ISC Law — part of the compiled statutory law of New York, published by the state as "ISC Law." Browse the sections below, each linked to its official government source.
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Policy loans
Official statutory text
§ 1406. Policy loans. (a) Any life insurance company may lend to any\npolicyholder upon the security of the value of his policy a sum not\nexceeding the legal reserve which it is required to maintain thereon.\n (b) A fraternal benefit society may make similar loans subject to the\nprovisions of article forty-five of this chapter.\n
Status: in_force · Read it on the official government site
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