Virginia Code 38.2-1418: Obligations of certain international agencies.
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A domestic insurer may invest in valid and legally authorized high grade obligations issued, assumed or guaranteed by an international development bank of which the United States is a member.
Terms Used In Virginia Code 38.2-1418
- High grade obligations: means obligations which (i) are rated one or two by the Securities Valuation Office of the National Association of Insurance Commissioners or (ii) if not rated by the Securities Valuation Office, are rated in an equivalent grade by a national rating agency recognized by the Commission. See Virginia Code 38.2-1401
- Insurer: means a company licensed pursuant to Chapter 10 (§ Virginia Code 38.2-1401
- 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, § 38.1-217.21; 1985, c. 370; 1986, c. 562; 1992, c. 588.