California Insurance Code

§ 1238

INS § 1238Div. 1 · Part 2 · Ch. 2 · Art. 5.5

Statute text

For the purposes of this section:

(1)The rate of interest on policy loans permitted under this section includes the interest rate charged on reinstatement of policy loans for the period during and after any lapse of a policy.

(2)“Policy loan” includes any premium loan made under a policy to pay one or more premiums that were not paid to the life insurer as they fell due.

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Legislative history

Added by Stats. 1982, Ch. 1351, Sec. 3.