diff --git a/src/serpent.lua b/src/serpent.lua
index 4628a74..e78d28f 100644
--- a/src/serpent.lua
+++ b/src/serpent.lua
@@ -1,4 +1,4 @@
-local n, v = "serpent", 0.27 -- (C) 2012-13 Paul Kulchenko; MIT License
+local n, v = "serpent", 0.271 -- (C) 2012-13 Paul Kulchenko; MIT License
 local c, d = "Paul Kulchenko", "Lua serializer and pretty printer"
 local snum = {[tostring(1/0)]='1/0 --[[math.huge]]',[tostring(-1/0)]='-1/0 --[[-math.huge]]',[tostring(0/0)]='0/0'}
 local badtype = {thread = true, userdata = true, cdata = true}
@@ -92,7 +92,7 @@ local function s(t, opts)
       seen[t] = insref or spath
       local ok, res = pcall(string.dump, t)
       local func = ok and ((opts.nocode and "function() --[[..skipped..]] end" or
-        "loadstring("..safestr(res)..",'@serialized')")..comment(t, level))
+        "((loadstring or load)("..safestr(res)..",'@serialized'))")..comment(t, level))
       return tag..(func or globerr(t, level))
     else return tag..safestr(t) end -- handle all other types
   end
diff --git a/t/test.lua b/t/test.lua
index f757df5..1a9016b 100644
--- a/t/test.lua
+++ b/t/test.lua
@@ -375,6 +375,22 @@ do
   end
 end
 
+do -- test for Lua 5.2 compiled without loadstring
+  local a = {function() return 1 end}
+
+  local load, loadstring = _G.load, _G.loadstring
+  local f = assert(loadstring('load = loadstring or load; loadstring = nil; return '..serpent.line(a)),
+    "serializing table with function as a value (1/2): failed")
+  local _a = f()
+  assert(_a[1]() == a[1](), "deserialization of function value without loadstring (1/2): failed")
+  _G.load, _G.loadstring = load, loadstring
+
+  local f = assert(loadstring('return '..serpent.line(a)),
+    "serializing table with function as a value (2/2): failed")
+  local _a = f()
+  assert(_a[1]() == a[1](), "deserialization of function value without loadstring (2/2): failed")
+end
+
 print("All tests passed.")
 
 if arg[1] == 'perf' then