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2022 Code of Alabama
Title 27 - Insurance.
Chapter 41 - Investments of Life, Disability and Burial Insurance Companies.
Section 27-41-25 - Particular Investments - Policy Loans.
Universal Citation: AL Code § 27-41-25 (2022)
Section 27-41-25
Particular investments - Policy loans.
A life insurer may lend to its policyholder upon the security of the policy 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 so long as the loan is adequately secured by such policy contracts.
(Acts 1977, No. 408, p. 530, §25.)
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