Section 1220 Of Article 5. Life Insurance Policies From California Insurance Code >> Division 1. >> Part 2. >> Chapter 2. >> Article 5.

. Domestic incorporated life insurers may also invest any funds in loans upon any of their own policies in an amount not exceeding the reserve against such policy at the time the loan is made, but policy loans shall not be deposited with the commissioner under Article 2, Chapter 5, Part 2, Division 2.