38.2-1411.1 - Investment limits generally. - Virginia Statutes

§ 38.2-1411.1. Investment limits generally.

A. Any securities described in 15 U.S.C. § 77r-1 shall be subject to all thelimitations prescribed by this chapter for investments not guaranteed by thefull faith and credit of the United States. However, upon prior writtenapplication by an insurer, the Commission may, until July 1, 1992, at itsdiscretion, allow such insurer to increase its investments in § 77r-1securities to an amount not to exceed ten percent of the insurer's totaladmitted assets.

B. On and after July 1, 1992, investments made in any securities described in15 U.S.C. § 77r-1 shall be subject to the percentage limitations andrequirements set forth in this chapter.

(1991, c. 283; 1992, c. 588.)