38.2-1430 - Collateral loans. - Virginia Statutes

§ 38.2-1430. Collateral loans.

A domestic insurer may make loans secured by securities eligible forinvestment under this article. At the date of investment, the loan shall notexceed eighty percent of the market value of the collateral pledged.However, if the collateral consists of obligations issued, assumed orguaranteed by the United States, the loan may equal the market value of thecollateral pledged.

(1983, c. 457, § 38.1-217.33; 1986, c. 562.)