{"data":{"id":"us-va/va.-code-38.2-502","jurisdiction":"us-va","citation":"Va. Code § 38.2-502","heading":"Misrepresentations and false advertising of insurance policies","body":"No person shall make, issue, circulate, cause or knowingly allow to be made, issued or circulated, any estimate, illustration, circular, statement, sales presentation, omission, or comparison that:1. Misrepresents the benefits, advantages, conditions or terms of any insurance policy;2. Misrepresents the dividends or share of the surplus to be received on any insurance policy;3. Makes any false or misleading statements as to the dividends or share of surplus previously paid on any insurance policy;4. Misrepresents or is misleading as to the financial condition of any person or the legal reserve system upon which any life insurer operates;5. Uses any name or title of any insurance policy or class of insurance policies that misrepresents the true nature of the policy or policies;6. Misrepresents any material fact for the purpose of inducing or tending to induce the lapse, forfeiture, exchange, conversion, replacement, or surrender of any insurance policy;7. Misrepresents any material fact for the purpose of effecting a pledge, assignment, or loan on any insurance policy; or8. Misrepresents any insurance policy as being a share of stock.Code 1950, § 38.1-52; 1952, c. 317, § 38.1-52.1; 1977, c. 529; 1978, c. 441; 1979, c. 324; 1980, c. 404; 1986, c. 562; 1990, c. 265.","path":["Title 38.2. INSURANCE","Chapter 5. UNFAIR TRADE PRACTICES"],"source_url":"https://law.lis.virginia.gov/vacode/38.2-502/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:16:05Z","sha256":"d500be6a4248d545a7054e9fc5ebea9f817d76499ec93038f9c11e8051a5e927","source_id":"us-va","stale":true,"prev":"us-va/va.-code-38.2-501","next":"us-va/va.-code-38.2-503"},"notice":"GroundRules: Original legal text. Not legal advice."}