Me. Stat. tit. 24-A § 1158
Current through 131st (2023-2024) Legislature Chapter 684
A life insurer may lend to its policyholder, upon pledge of the policy as collateral security, any sum not exceeding the cash surrender value of the policy; or may lend against pledge or assignment of any of its supplementary contracts or other contracts or obligations, as long as the loan is adequately secured by that pledge or assignment. Loans so made are eligible investments of the insurer. [1987, c. 399, §14(NEW).]
24-A M.R.S. § 1158