Virginia Code 38.2-1405: Dates of determination.
Current as of: 2024 | Check for updates
|
Other versions
A. The classification by investment category of each investment, based on type of investment as set forth in §§ 38.2-1415 through 38.2-1442, inclusive, shall be determined as of the date of investment.
Terms Used In Virginia Code 38.2-1405
- 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
- Date of investment: means the date on which funds are disbursed for an investment. See Virginia Code 38.2-1401
- Insurer: means a company licensed pursuant to Chapter 10 (§ Virginia Code 38.2-1401
- Surplus to policyholders: means the excess of total admitted assets over the liabilities of an insurer, and shall be the sum of all capital and surplus accounts, including any voluntary reserves, minus any impairment of all capital and surplus accounts. See Virginia Code 38.2-100
B. In applying any percentage limitations based on the insurer‘s total admitted assets or surplus to policyholders, there shall be used as a base, without regard to percentage limitations, those assets or surplus to policyholders as shown by the insurer’s most recent annual or quarterly statement on file with the Commission pursuant to §§ 38.2-1300 and 38.2-1301.
1983, c. 457, § 38.1-217.6; 1986, c. 562; 1992, c. 588.