Virginia Code 38.2-1417: Canadian corporate obligations.
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A domestic insurer may invest in obligations issued, assumed or guaranteed by any solvent corporation created or existing under the laws of Canada, or any province of Canada. However, those obligations shall meet the standards specified in § 38.2-1421 for obligations of any business entity created or existing under the laws of the United States or any state.
Terms Used In Virginia Code 38.2-1417
- Business entity: means a corporation, association, partnership, joint venture, trust, church, or religious body. See Virginia Code 38.2-1401
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Insurer: means a company licensed pursuant to Chapter 10 (§ Virginia Code 38.2-1401
- State: means any commonwealth, state, territory, district or insular possession of the United States. See Virginia Code 38.2-100
- United States: includes the 50 states, the District of Columbia the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands and the United States Virgin Islands. See Virginia Code 1-255
1983, c. 457, § 38.1-217.20; 1986, c. 562; 1992, c. 588.