# N.Y. ISC Law § 1406: Policy loans

> New York · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1406

## Section

- **Citation:** N.Y. ISC Law § 1406
- **Heading:** Policy loans
- **Jurisdiction:** New York
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** New York Code / Act ISC / Article 14 / Section 1406

## 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

## Nearby sections

- [N.Y. ISC Law § 1401 Definitions and rules of general application](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1401.md)
- [N.Y. ISC Law § 1402 Minimum capital or minimum surplus to policyholder investments](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1402.md)
- [N.Y. ISC Law § 1403 Reserve and other investments; certain requirements](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1403.md)
- [N.Y. ISC Law § 1404 Types of reserve investments permitted for non-life insurers](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1404.md)
- [N.Y. ISC Law § 1405 Investments of life insurers](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1405.md)
- [N.Y. ISC Law § 1406 Policy loans](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1406.md)
- [N.Y. ISC Law § 1407 Non-reserve and prohibited investments for property/casualty and certain other insurers](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1407.md)
- [N.Y. ISC Law § 1408 Acquisition of insurance company shares; limitations thereon](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1408.md)
- [N.Y. ISC Law § 1409 Limitation of investments](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1409.md)
- [N.Y. ISC Law § 1410 Derivative transactions and derivative instruments](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1410.md)
- [N.Y. ISC Law § 1411 Authorization of, and restrictions on, investments](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1411.md)
- [N.Y. ISC Law § 1412 Disposal or deduction of investments unlawfully acquired](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1412.md)
- [N.Y. ISC Law § 1413 Investments of foreign and alien insurers](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1413.md)
- [N.Y. ISC Law § 1414 Valuation of investments](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1414.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1406. Check the current official text before relying on it. Not legal advice.