Article 61.
89 words·~1 min read·
/nc/chapter-58/61A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Article 61.
Regulation of Interest Rates on Life Insurance Policy Loans.
§ 58-61-1. Purpose.
The purpose of this Article is to permit and set guidelines for life insurers to include in life insurance policies issued after the effective date of this Article a provision for periodic adjustment of policy loan interest rates. Nothing in this Article shall be construed to prohibit a life insurer from issuing a policy that contains only the provision specified in G.S. 58-61-10(a)(1) with respect to policy loan interest rates. (1981, c. 841, s. 1.)