{"data":{"id":"us-va/va.-code-38.2-3101","jurisdiction":"us-va","citation":"Va. Code § 38.2-3101","heading":"Legal reserve insurers","body":"Any life insurer, association or society whose policies or certificates are required to contain any provision that a person insured shall, upon surrender of the policy during his lifetime, receive a surrender value, either in cash, paid-up insurance, or extended insurance, shall be regarded as a \"legal reserve insurer,\" and shall maintain a reserve calculated in accordance with the provisions of Article 10 (§ 38.2-1365 et seq.) of Chapter 13. Nothing in this section shall be construed to apply to any insurer in the transaction of industrial sick benefit insurance as defined in § 38.2-3544, nor to fraternal benefit societies.Code 1950, § 38-389; 1952, c. 317, § 38.1-432; 1986, c. 562; 2014, c. 571.","path":["Title 38.2. INSURANCE","Chapter 31. LIFE INSURANCE","Article 1. General Provisions"],"source_url":"https://law.lis.virginia.gov/vacode/38.2-3101/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:16:05Z","sha256":"3b0603d253a2ea39fee110552c6aa57cb7fd3e8955cc762eb29fb118ea33cbbd","source_id":"us-va","stale":true,"prev":"us-va/va.-code-38.2-3100.3","next":"us-va/va.-code-38.2-3102"},"notice":"GroundRules: Original legal text. Not legal advice."}