New York § 1406 - 1406Policy loans
Full text of New York New York Consolidated Laws § 1406 — 1406Policy loans, with citation guidance and answers to common questions.
§ 1406. 1406Policy loans
§ 1406. Policy loans. (a) Any life insurance company may lend to any policyholder upon the security of the value of his policy a sum not exceeding the legal reserve which it is required to maintain thereon. (b) A fraternal benefit society may make similar loans subject to the provisions of article forty-five of this chapter.
Frequently Asked Questions About New York § 1406
What does New York Consolidated Laws § 1406 cover?
Section 1406 ("1406Policy loans") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 1406?
A common citation format is "New York Consolidated Laws § 1406" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 1406 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.