41-1931 — INDEBTEDNESS DEDUCTED FROM PROCEEDS

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                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 19
                           LIFE INSURANCE POLICIES
                            AND ANNUITY CONTRACTS
    41-1931.  INDEBTEDNESS DEDUCTED FROM PROCEEDS. In determining the amount
due under any life insurance policy heretofore or hereafter issued, deduction
may be made of:
    (1)  Any unpaid premiums or instalments thereof for the current policy
year due under the terms of the policy, and of
    (2)  The amount of principal and accrued interest of any policy loan or
other indebtedness against the policy then remaining unpaid.