38.2-122 - Credit. - Virginia Statutes

§ 38.2-122. Credit.

"Credit insurance" means indemnifying merchants or other persons extendingcredit against loss or damage resulting from the nonpayment of debts owed tothem. "Credit insurance" includes the incidental power to acquire anddispose of debts so insured and to collect any debts owed to the insurer orto any persons so insured by the insurer. "Credit insurance" does notinclude any insurance defined in §§ 38.2-103, 38.2-108, 38.2-122.1,38.2-122.2 or § 38.2-128.

(1952, c. 317, § 38.1-19; 1986, c. 562; 2000, c. 526.)