Section 27-41-25

Link to law: http://alisondb.legislature.state.al.us/alison/codeofalabama/1975/27-41-25.htm
Published: 2015

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Section 27-41-25

Section 27-41-25Particular 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.)