Ins. Code, § 1238 · Article 5.5. Life Insurance Policy Loans
Ins. Code, § 1238
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
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.
(3) “Policyholder” includes the owner of the policy or the person designated to pay premiums as shown on the records of the life insurer.
(4) “Policy” includes certificates issued by a fraternal benefit society and annuity contracts which provide for policy loans.
Notes and commentary — not statutory text
History
Added by Stats. 1982, Ch. 1351, Sec. 3.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS§ionNum=1238.
- Text hash
- sha256 34f617e4e608112ec9fb77be1d6ac6c8f8bbf5a60d0faa3187fa7ccb97d4b196
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.