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2017 New Mexico Statutes
Chapter 59A - Insurance Code
Article 9 - Investments
Section 59A-9-15 - Policy loans.
Universal Citation: NM Stat § 59A-9-15 (2017)
59A-9-15. Policy loans.
A life insurer may lend to its policyholder or annuity contract holder, upon pledge of the policy or contract as collateral security, any sum not exceeding the cash surrender value of the policy or contract, 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 pledge or assignment.
History: Laws 1984, ch. 127, 148.
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