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§ 5-508. Policy loans

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 5. Assets, Liabilities, Reserves, and Investments of Insurers
Subtitle 5. Investments of Life Insurers (Refs & Annos)
MD Code, Insurance, § 5-508
§ 5-508. Policy loans
Amount of loan not exceeding cash surrender value of policy
(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.
Policy loan an eligible reserve investment
(b) A policy loan is an eligible reserve investment of a life insurer.

Credits

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.
MD Code, Insurance, § 5-508, MD INSURANCE § 5-508
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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