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New York Code › Act ISC › Article 14 › Section 1406

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

Text

§ 1406. Policy loans. (a) Any life insurance company may lend to any\npolicyholder upon the security of the value of his policy a sum not\nexceeding the legal reserve which it is required to maintain thereon.\n (b) A fraternal benefit society may make similar loans subject to the\nprovisions of article forty-five of this chapter.\n

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Policy loans · N.Y. ISC Law § 1406 | Frix