Code of Virginia § 38.2-3218. Same; in policies subsequently issued.
94 words·~1 min read·
/va/title-38-2/chapter-32/38-2-3218A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For policies issued on or after the operative date stated in § 38.2-3214 , the loan value referred to in former § 38.1-397 or § 38.2-3308 , whichever applies, shall be the cash surrender value at the end of the current policy year required by § 38.2-3202 . The insurer shall have the right to defer for up to six months after application for the loan is made a loan on the policy, except when made to pay premiums to the insurer.
Code 1950, § 38-385; 1952, c. 317, § 38.1-470; 1986, c. 562.