Ala. Code § 27-41-25
Current with legislation from 2024 effective through May 17, 2024.
A life insurer may lend to its policyholder upon the security of the policy 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 policy contracts.
Ala. Code § 27-41-25 (1975)