38.2-1306.2 - Valuation of investments and other assets. - Virginia Statutes

§ 38.2-1306.2. Valuation of investments and other assets.

The value of investments and other assets, other than those not admittedpursuant to § 38.2-1306.3, and their reporting as admitted or nonadmittedassets shall be determined in accordance with valuations or valuationguidance set forth in the National Association of Insurance Commissioners(NAIC) accounting practices and procedures manuals. The Commission may grantexception to or modification of NAIC accounting practices and proceduresotherwise prescribed by this section upon petition from an insurer organizedand operating under the laws of this Commonwealth and licensed pursuant tothe provisions of Chapter 25 (§ 38.2-2500 et seq.) of this title.

(1992, c. 588; 1993, c. 158; 2000, c. 46.)