Code of Virginia § 38.2-1430. Collateral loans.
69 words·~1 min read·
/va/title-38-2/chapter-14/38-2-1430A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A domestic insurer may make loans secured by securities eligible for investment under this article. At the date of investment, the loan shall not exceed eighty percent of the market value of the collateral pledged. However, if the collateral consists of obligations issued, assumed or guaranteed by the United States, the loan may equal the market value of the collateral pledged.
1983, c. 457, § 38.1-217.33; 1986, c. 562.