§ 58-7-175. Policy loans. - North Carolina Statutes

§58‑7‑175.  Policy loans.

A life insurer may lend to itspolicyholder, upon pledge of the policy as collateral security, any sum notexceeding the cash loan value of the policy; or may lend against pledge orassignment of any of its supplementary contracts or other contracts orobligations, as long as the loan is adequately secured by the pledge orassignment.  Loans so made are eligible investments of the insurer. (1991,c. 681, s. 29.)