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The Pamphlet Collection of Sir Robert Stout: Volume 45

Limitation of Loans

Limitation of Loans.

(1.) Not more than one-half of the amount of an assurance on the life of a member of at least one full year's standing may be advanced to him, on the written security of himself and two satisfactory sureties for repayment; and the amount advanced, with all interest thereon, may be deducted from the sum assured, without prejudice in the meantime to the operation of such security.