Code of Virginia § 38.2-1402. Authority to invest; classification of investments by category.
89 words·~1 min read·
/va/title-38-2/chapter-14/38-2-1402A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.
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.