Statutes, codes, and regulations
Code of Virginia
Title 38.2 - INSURANCEChapter 38 - COOPERATIVE NONPROFIT LIFE BENEFIT COMPANIES
Article 2 - RESERVES, POLICIES AND BENEFITS
Section 38.2-3816 - Policies companies may issue; reserves required; provisions concerning increase of rates and extra assessments

Va. Code § 38.2-3816

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Current with changes from the 2024 legislative session through ch. 845
Section 38.2-3816 - Policies companies may issue; reserves required; provisions concerning increase of rates and extra assessments

Any company may issue contracts of life, accident and sickness insurance or combinations of them. The reserves for such policies or contracts shall be based upon the American Experience Table of Mortality, with an interest assumption of no more than four percent, or some higher standard, or upon any minimum standard allowed by law in this Commonwealth for legal reserve life insurers. It may provide in its laws or bylaws and membership contracts that the rates shall not be increased or extra assessments made.

Va. Code § 38.2-3816

Code 1950, § 38-488; 1952, c. 317, § 38.1-516; 1986, c. 562.
Amended by Acts 1986, § c. 562.
Amended by Acts 1952, § c. 317, § 38.1-516.