Virginia Code 38.2-1402: Authority to invest; classification of investments by category.
Current as of: 2024 | Check for updates
|
Other versions
A. A domestic insurer may invest its funds and assets in accordance with this chapter. All investments of a domestic insurer shall be classified as (i) Category 1 investments, (ii) Category 2 investments, or (iii) prohibited investments.
Terms Used In Virginia Code 38.2-1402
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Commission: means the State Corporation Commission. See Virginia Code 38.2-100
- Insurer: means a company licensed pursuant to Chapter 10 (§ Virginia Code 38.2-1401
B. The Commission, upon application by an insurer, may classify any investments made or proposed to be made and not otherwise specifically classified in Articles 1 (§ 38.2-1400 et seq.) and 2 (§ 38.2-1412 et seq.) of this chapter as a Category 1 investment.
1983, c. 457, § 38.1-217.3; 1986, c. 562.