38.2-1424 - Guaranteed stocks. - Virginia Statutes

§ 38.2-1424. Guaranteed stocks.

A domestic insurer may invest in stocks guaranteed by a solvent companyincorporated under the laws of the United States or of any state if for thepast three years the guarantor's net earnings available for meeting fixedcharges is at least 1 1/4 times the sum of (i) the fixed charges of theguarantor and (ii) the dividends on the guaranteed stock.

(1983, c. 457, § 38.1-217.27; 1986, c. 562.)