There is a newer version of the Maryland Code
Maryland Insurance Section 5-508
§ 5-508.
  (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.
  (b)   A policy loan is an eligible reserve investment of a life insurer.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.