{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-106.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-106.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-106.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-106.html"}],"law_id":87220,"edition_id":1,"section_id":87220,"structure_id":13746,"section_number":"38.2-106","catch_line":"Annuities","history":"1952, c. 317, \u00a7 38.1-4; 1966, c. 289; 1970, c. 532; 1985, c. 312; 1986, c. 562; 1992, c. 210; 1993, c. 764; 1996, c. 425; 2001, c. 64.","full_text":"&#8220;Annuities&#8221; means all agreements to make periodic payments in specified or calculable sums pursuant to the terms of a contract for a stated period of time or for the life of the person or persons specified in the contract. &#8220;Annuities&#8221; does not include contracts defined in \u00a7 38.2-102 and qualified charitable gift annuities as defined in \u00a7 38.2-106.1.\n\t\tAs used in this title, unless the context requires otherwise, &#8220;annuity&#8221; shall be deemed to include &#8220;variable annuity&#8221; and &#8220;modified guaranteed annuity,&#8221; and shall be deemed to include a contract under which a lump sum cash settlement is an alternative to the option of periodic payments.","order_by":null,"text":{"0":{"id":312339,"text":"&#8220;Annuities&#8221; means all agreements to make periodic payments in specified or calculable sums pursuant to the terms of a contract for a stated period of time or for the life of the person or persons specified in the contract. &#8220;Annuities&#8221; does not include contracts defined in \u00a7 38.2-102 and qualified charitable gift annuities as defined in \u00a7 38.2-106.1.\n\t\tAs used in this title, unless the context requires otherwise, &#8220;annuity&#8221; shall be deemed to include &#8220;variable annuity&#8221; and &#8220;modified guaranteed annuity,&#8221; and shall be deemed to include a contract under which a lump sum cash settlement is an alternative to the option of periodic payments.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13746,"edition_id":1,"name":"Insurance Classified and Defined","identifier":"2","label":"article","depth":3,"order_by":1,"parent_id":13745,"metadata":{},"date_created":"2026-06-26 03:45:45","date_modified":"2026-06-26 03:45:45","permalink":{"id":210675,"object_type":"structure","relational_id":13746,"identifier":"2","token":"38.2\/1\/2","url":"\/38.2\/1\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13745,"edition_id":1,"name":"General Provisions","identifier":"1","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:45:45","date_modified":"2026-06-26 03:45:45","permalink":{"id":210663,"object_type":"structure","relational_id":13745,"identifier":"1","token":"38.2\/1","url":"\/38.2\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12698,"edition_id":1,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":210661,"object_type":"structure","relational_id":12698,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":72897,"structure_id":13746,"section_number":"38.2-101","catch_line":"Classification of insurance","url":"\/38.2-101\/","token":"38.2\/1\/2\/38.2-101","metadata":false},{"id":57209,"structure_id":13746,"section_number":"38.2-102","catch_line":"Life","url":"\/38.2-102\/","token":"38.2\/1\/2\/38.2-102","metadata":false},{"id":76182,"structure_id":13746,"section_number":"38.2-103","catch_line":"Credit life","url":"\/38.2-103\/","token":"38.2\/1\/2\/38.2-103","metadata":false},{"id":67449,"structure_id":13746,"section_number":"38.2-104","catch_line":"Industrial life","url":"\/38.2-104\/","token":"38.2\/1\/2\/38.2-104","metadata":false},{"id":57228,"structure_id":13746,"section_number":"38.2-105","catch_line":"Variable life","url":"\/38.2-105\/","token":"38.2\/1\/2\/38.2-105","metadata":false},{"id":62859,"structure_id":13746,"section_number":"38.2-105.1","catch_line":"Modified guaranteed life insurance","url":"\/38.2-105.1\/","token":"38.2\/1\/2\/38.2-105.1","metadata":false},{"id":87220,"structure_id":13746,"section_number":"38.2-106","catch_line":"Annuities","url":"\/38.2-106\/","token":"38.2\/1\/2\/38.2-106","metadata":false},{"id":73424,"structure_id":13746,"section_number":"38.2-106.1","catch_line":"Charitable gift annuities","url":"\/38.2-106.1\/","token":"38.2\/1\/2\/38.2-106.1","metadata":false},{"id":64558,"structure_id":13746,"section_number":"38.2-107","catch_line":"Variable annuity","url":"\/38.2-107\/","token":"38.2\/1\/2\/38.2-107","metadata":false},{"id":56142,"structure_id":13746,"section_number":"38.2-107.1","catch_line":"Modified guaranteed annuity","url":"\/38.2-107.1\/","token":"38.2\/1\/2\/38.2-107.1","metadata":false},{"id":67077,"structure_id":13746,"section_number":"38.2-107.2","catch_line":"Private family leave insurance","url":"\/38.2-107.2\/","token":"38.2\/1\/2\/38.2-107.2","metadata":false},{"id":62263,"structure_id":13746,"section_number":"38.2-108","catch_line":"Credit accident and sickness","url":"\/38.2-108\/","token":"38.2\/1\/2\/38.2-108","metadata":false},{"id":75359,"structure_id":13746,"section_number":"38.2-109","catch_line":"Accident and sickness","url":"\/38.2-109\/","token":"38.2\/1\/2\/38.2-109","metadata":false},{"id":56505,"structure_id":13746,"section_number":"38.2-110","catch_line":"Fire","url":"\/38.2-110\/","token":"38.2\/1\/2\/38.2-110","metadata":false},{"id":73309,"structure_id":13746,"section_number":"38.2-111","catch_line":"Miscellaneous property and casualty","url":"\/38.2-111\/","token":"38.2\/1\/2\/38.2-111","metadata":false},{"id":78163,"structure_id":13746,"section_number":"38.2-112","catch_line":"Water damage","url":"\/38.2-112\/","token":"38.2\/1\/2\/38.2-112","metadata":false},{"id":73509,"structure_id":13746,"section_number":"38.2-113","catch_line":"Burglary and theft","url":"\/38.2-113\/","token":"38.2\/1\/2\/38.2-113","metadata":false},{"id":58243,"structure_id":13746,"section_number":"38.2-114","catch_line":"Glass insurance","url":"\/38.2-114\/","token":"38.2\/1\/2\/38.2-114","metadata":false},{"id":73597,"structure_id":13746,"section_number":"38.2-115","catch_line":"Boiler and machinery","url":"\/38.2-115\/","token":"38.2\/1\/2\/38.2-115","metadata":false},{"id":65377,"structure_id":13746,"section_number":"38.2-116","catch_line":"Animal","url":"\/38.2-116\/","token":"38.2\/1\/2\/38.2-116","metadata":false},{"id":83683,"structure_id":13746,"section_number":"38.2-117","catch_line":"Personal injury liability","url":"\/38.2-117\/","token":"38.2\/1\/2\/38.2-117","metadata":false},{"id":58741,"structure_id":13746,"section_number":"38.2-118","catch_line":"Property damage liability","url":"\/38.2-118\/","token":"38.2\/1\/2\/38.2-118","metadata":false},{"id":80898,"structure_id":13746,"section_number":"38.2-119","catch_line":"Workers' compensation and employers' liability","url":"\/38.2-119\/","token":"38.2\/1\/2\/38.2-119","metadata":false},{"id":60879,"structure_id":13746,"section_number":"38.2-120","catch_line":"Fidelity","url":"\/38.2-120\/","token":"38.2\/1\/2\/38.2-120","metadata":false},{"id":82253,"structure_id":13746,"section_number":"38.2-121","catch_line":"Surety","url":"\/38.2-121\/","token":"38.2\/1\/2\/38.2-121","metadata":false},{"id":82832,"structure_id":13746,"section_number":"38.2-122","catch_line":"Credit","url":"\/38.2-122\/","token":"38.2\/1\/2\/38.2-122","metadata":false},{"id":69638,"structure_id":13746,"section_number":"38.2-122.1","catch_line":"Credit involuntary unemployment insurance","url":"\/38.2-122.1\/","token":"38.2\/1\/2\/38.2-122.1","metadata":false},{"id":69580,"structure_id":13746,"section_number":"38.2-122.2","catch_line":"Credit property insurance","url":"\/38.2-122.2\/","token":"38.2\/1\/2\/38.2-122.2","metadata":false},{"id":54747,"structure_id":13746,"section_number":"38.2-123","catch_line":"Title","url":"\/38.2-123\/","token":"38.2\/1\/2\/38.2-123","metadata":false},{"id":66976,"structure_id":13746,"section_number":"38.2-124","catch_line":"Motor vehicle","url":"\/38.2-124\/","token":"38.2\/1\/2\/38.2-124","metadata":false},{"id":66153,"structure_id":13746,"section_number":"38.2-125","catch_line":"Aircraft","url":"\/38.2-125\/","token":"38.2\/1\/2\/38.2-125","metadata":false},{"id":63990,"structure_id":13746,"section_number":"38.2-126","catch_line":"Marine","url":"\/38.2-126\/","token":"38.2\/1\/2\/38.2-126","metadata":false},{"id":65571,"structure_id":13746,"section_number":"38.2-127","catch_line":"Legal services insurance","url":"\/38.2-127\/","token":"38.2\/1\/2\/38.2-127","metadata":false},{"id":69932,"structure_id":13746,"section_number":"38.2-128","catch_line":"Mortgage guaranty insurance","url":"\/38.2-128\/","token":"38.2\/1\/2\/38.2-128","metadata":false},{"id":57616,"structure_id":13746,"section_number":"38.2-129","catch_line":"Home protection insurance","url":"\/38.2-129\/","token":"38.2\/1\/2\/38.2-129","metadata":false},{"id":75005,"structure_id":13746,"section_number":"38.2-130","catch_line":"Homeowners insurance","url":"\/38.2-130\/","token":"38.2\/1\/2\/38.2-130","metadata":false},{"id":79979,"structure_id":13746,"section_number":"38.2-131","catch_line":"Farmowners insurance","url":"\/38.2-131\/","token":"38.2\/1\/2\/38.2-131","metadata":false},{"id":60601,"structure_id":13746,"section_number":"38.2-132","catch_line":"Commercial multi-peril insurance","url":"\/38.2-132\/","token":"38.2\/1\/2\/38.2-132","metadata":false},{"id":85493,"structure_id":13746,"section_number":"38.2-133","catch_line":"Contingent and consequential losses","url":"\/38.2-133\/","token":"38.2\/1\/2\/38.2-133","metadata":false},{"id":74943,"structure_id":13746,"section_number":"38.2-134","catch_line":"Definitions to include other insurance of same general kind","url":"\/38.2-134\/","token":"38.2\/1\/2\/38.2-134","metadata":false}],"previous_section":{"id":62859,"structure_id":13746,"section_number":"38.2-105.1","catch_line":"Modified guaranteed life insurance","url":"\/38.2-105.1\/","token":"38.2\/1\/2\/38.2-105.1","metadata":false},"next_section":{"id":73424,"structure_id":13746,"section_number":"38.2-106.1","catch_line":"Charitable gift annuities","url":"\/38.2-106.1\/","token":"38.2\/1\/2\/38.2-106.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-106\/","history_text":"<p>This law was first created in 1952. The record of its establishment is cataloged in chapter 317 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1952 \u201cActs\u201d aren\u2019t available online. It has been modified 8 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1966, chapter 289; in 1970, chapter 532; in 1985, chapter 312; in 1986, chapter 562; in 1992, chapter 210; in 1993, chapter 764; in 1996, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?961+ful+CHAP0425\">425<\/a>; in 2001, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?011+ful+CHAP0064\">64<\/a>.<\/p>","references":[{"id":60734,"section_number":"38.2-1311","catch_line":"Valuation reserves","order_by":null,"url":"\/38.2-1311\/"},{"id":67482,"section_number":"38.2-1800","catch_line":"Definitions","order_by":null,"url":"\/38.2-1800\/"},{"id":74191,"section_number":"38.2-1902","catch_line":"Scope of chapter","order_by":null,"url":"\/38.2-1902\/"},{"id":86306,"section_number":"38.2-3116","catch_line":"Commission to establish standards for simplified and readable life insurance and annuity policies","order_by":null,"url":"\/38.2-3116\/"},{"id":55183,"section_number":"38.2-3902","catch_line":"Classes of insurance that may be written by mutual assessment life, accident and sickness insurers","order_by":null,"url":"\/38.2-3902\/"},{"id":65373,"section_number":"58.1-2502","catch_line":"Exemptions and exclusions","order_by":null,"url":"\/58.1-2502\/"}],"refers_to":[{"id":57209,"section_number":"38.2-102","catch_line":"Life","order_by":null,"url":"\/38.2-102\/"},{"id":73424,"section_number":"38.2-106.1","catch_line":"Charitable gift annuities","order_by":null,"url":"\/38.2-106.1\/"}],"permalink":{"id":210701,"object_type":"law","relational_id":87220,"identifier":"38.2-106","token":"38.2\/1\/2\/38.2-106","url":"\/38.2-106\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-106\/","token":"38.2\/1\/2\/38.2-106","dublin_core":{"Title":"Annuities","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-106","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>&#8220;Annuities&#8221; means all agreements to make periodic payments in specified or calculable sums pursuant to the terms of a <span class=\"dictionary\">contract<\/span> for a stated period of time or for the life of the <span class=\"dictionary\">person<\/span> or <span class=\"dictionary\">persons<\/span> specified in the <span class=\"dictionary\">contract<\/span>. &#8220;Annuities&#8221; does not include <span class=\"dictionary\">contracts<\/span> defined in \u00a7&nbsp;<a class=\"law\" title=\"Life\" href=\"\/38.2-102\/\">38.2-102<\/a> and qualified charitable gift annuities as defined in \u00a7&nbsp;<a class=\"law\" title=\"Charitable gift annuities\" href=\"\/38.2-106.1\/\">38.2-106.1<\/a>.\n\t\tAs used in this title, unless the context requires otherwise, &#8220;annuity&#8221; shall be deemed to include &#8220;variable annuity&#8221; and &#8220;modified guaranteed annuity,&#8221; and shall be deemed to include a <span class=\"dictionary\">contract<\/span> under which a lump sum cash <span class=\"dictionary\">settlement<\/span> is an alternative to the option of periodic payments.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nANNUITIES (\u00a7 38.2-106)\n\n&#8220;Annuities&#8221; means all agreements to make periodic payments in\nspecified or calculable sums pursuant to the terms of a contract for a stated\nperiod of time or for the life of the person or persons specified in the\ncontract. &#8220;Annuities&#8221; does not include contracts defined in \u00a7\n38.2-102 and qualified charitable gift annuities as defined in \u00a7 38.2-106.1.\n\t\tAs used in this title, unless the context requires otherwise,\n&#8220;annuity&#8221; shall be deemed to include &#8220;variable annuity&#8221;\nand &#8220;modified guaranteed annuity,&#8221; and shall be deemed to include a\ncontract under which a lump sum cash settlement is an alternative to the option\nof periodic payments.\n\nHISTORY: 1952, c. 317, \u00a7 38.1-4; 1966, c. 289; 1970, c. 532; 1985, c. 312;\n1986, c. 562; 1992, c. 210; 1993, c. 764; 1996, c. 425; 2001, c. 64.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}