CHAPTER 411-A REGULATION OF INVESTMENTS OF LIFE INSURANCE COMPANIES
Section 411-A:27
411-A:27 Policy Loans. –
An insurer may lend to a policyholder, upon pledge of the policy as collateral security, 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 pledge or assignment.