38.2-1427 - Common stock; covered call options. - Virginia Statutes

§ 38.2-1427. Common stock; covered call options.

A. A domestic insurer may invest in the common capital stock of any companyincorporated under the laws of the United States or any state, if the commoncapital stock of the corporation is traded on a securities exchange or on anover-the-counter market regulated under the Securities Exchange Act of 1934,as amended.

B. A domestic insurer also may write exchange-traded, covered call options onshares of common capital stock it owns.

C. No domestic insurer shall invest, pursuant to this section, in more thanten percent of the issued and outstanding common capital stock of any onecorporation or issuer.

(1983, c. 457, § 38.1-217.30; 1986, c. 562; 1992, c. 588.)