38.2-1402 - Authority to invest; classification of investments by category. - Virginia Statutes

§ 38.2-1402. Authority to invest; classification of investments by category.

A. A domestic insurer may invest its funds and assets in accordance with thischapter. All investments of a domestic insurer shall be classified as (i)Category 1 investments, (ii) Category 2 investments, or (iii) prohibitedinvestments.

B. The Commission, upon application by an insurer, may classify anyinvestments made or proposed to be made and not otherwise specificallyclassified in Articles 1 (§ 38.2-1400 et seq.) and 2 (§ 38.2-1412 et seq.) ofthis chapter as a Category 1 investment.

(1983, c. 457, § 38.1-217.3; 1986, c. 562.)