Indebtedness deducted from proceeds
Known as the Life Settlements Act
The act spans §§ 41–41 (61 sections).
1961, ch. 330, § 462, p. 645.
In determining the amount due under any life insurance policy heretofore or hereafter issued, deduction may be made of:
(1) Any unpaid premiums or installments thereof for the current policy year due under the terms of the policy, and of
(2) The amount of principal and accrued interest of any policy loan or other indebtedness against the policy then remaining unpaid.
Current official text: Idaho Statutes (Idaho Legislature). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Idaho statutes; confirm against the official source for the current text. Not legal advice.