North Carolina General Statutes § 58-7-175 Policy loans
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A life insurer may lend to its policyholder, upon pledge of the policy as collateral security, any sum not exceeding the cash loan value of the policy; or may lend against pledge or assignment of any of its supplementary contracts or other contracts or obligations, as long as the loan is adequately secured by the pledge or assignment. Loans so made are eligible investments of the insurer. (1991, c. 681, s. 29.)
Sections: 58-7-163 58-7-165 58-7-167 58-7-168 58-7-170 58-7-172 58-7-173 58-7-175 58-7-178 58-7-179 58-7-180 58-7-182 58-7-183 58-7-185 58-7-187
Last modified: February 21, 2012
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