{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1306.2.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1306.2.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1306.2.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1306.2.html"}],"law_id":60506,"edition_id":1,"section_id":60506,"structure_id":13323,"section_number":"38.2-1306.2","catch_line":"Valuation of investments and other assets","history":"1992, c. 588; 1993, c. 158; 2000, c. 46.","full_text":"The value of investments and other assets, other than those not admitted pursuant to \u00a7 38.2-1306.3, and their reporting as admitted or nonadmitted assets shall be determined in accordance with valuations or valuation guidance set forth in the National Association of Insurance Commissioners (NAIC) accounting practices and procedures manuals. The Commission may grant exception to or modification of NAIC accounting practices and procedures otherwise prescribed by this section upon petition from an insurer organized and operating under the laws of this Commonwealth and licensed pursuant to the provisions of Chapter 25 (\u00a7 38.2-2500 et seq.) of this title.","order_by":null,"text":{"0":{"id":221221,"text":"The value of investments and other assets, other than those not admitted pursuant to \u00a7 38.2-1306.3, and their reporting as admitted or nonadmitted assets shall be determined in accordance with valuations or valuation guidance set forth in the National Association of Insurance Commissioners (NAIC) accounting practices and procedures manuals. The Commission may grant exception to or modification of NAIC accounting practices and procedures otherwise prescribed by this section upon petition from an insurer organized and operating under the laws of this Commonwealth and licensed pursuant to the provisions of Chapter 25 (\u00a7 38.2-2500 et seq.) of this title.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13323,"edition_id":1,"name":"Valuation and Admissibility of Assets","identifier":"2","label":"article","depth":3,"order_by":1,"parent_id":13289,"metadata":{},"date_created":"2026-06-26 03:44:38","date_modified":"2026-06-26 03:44:38","permalink":{"id":211473,"object_type":"structure","relational_id":13323,"identifier":"2","token":"38.2\/13\/2","url":"\/38.2\/13\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13289,"edition_id":1,"name":"Reports, Reserves and Examinations, Insurance Holding Companies, Reinsurance Intermediaries, and Managing General Agents","identifier":"13","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:44:35","date_modified":"2026-06-26 03:44:35","permalink":{"id":211347,"object_type":"structure","relational_id":13289,"identifier":"13","token":"38.2\/13","url":"\/38.2\/13\/","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":60506,"structure_id":13323,"section_number":"38.2-1306.2","catch_line":"Valuation of investments and other assets","url":"\/38.2-1306.2\/","token":"38.2\/13\/2\/38.2-1306.2","metadata":false},{"id":79926,"structure_id":13323,"section_number":"38.2-1306.3","catch_line":"Nonadmitted assets","url":"\/38.2-1306.3\/","token":"38.2\/13\/2\/38.2-1306.3","metadata":false},{"id":60054,"structure_id":13323,"section_number":"38.2-1307","catch_line":"Repealed","url":"\/38.2-1307\/","token":"38.2\/13\/2\/38.2-1307","metadata":false},{"id":83741,"structure_id":13323,"section_number":"38.2-1310","catch_line":"Repealed","url":"\/38.2-1310\/","token":"38.2\/13\/2\/38.2-1310","metadata":false},{"id":54309,"structure_id":13323,"section_number":"38.2-1310.1","catch_line":"Repealed","url":"\/38.2-1310.1\/","token":"38.2\/13\/2\/38.2-1310.1","metadata":false}],"next_section":{"id":79926,"structure_id":13323,"section_number":"38.2-1306.3","catch_line":"Nonadmitted assets","url":"\/38.2-1306.3\/","token":"38.2\/13\/2\/38.2-1306.3","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1306.2\/","history_text":"

This law was first created in 1992. The record of its establishment is cataloged in chapter 588 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 1992 \u201cActs\u201d aren\u2019t available online. It has been modified 2 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 1993, chapter 158; in 2000, chapter 46<\/a>.<\/p>","references":[{"id":55347,"section_number":"38.2-4214","catch_line":"Application of certain provisions of law","order_by":null,"url":"\/38.2-4214\/"},{"id":67952,"section_number":"38.2-4319","catch_line":"Statutory construction and relationship to other laws","order_by":null,"url":"\/38.2-4319\/"},{"id":60078,"section_number":"38.2-4408","catch_line":"Application of certain provisions","order_by":null,"url":"\/38.2-4408\/"},{"id":62548,"section_number":"38.2-4509","catch_line":"Application of certain laws","order_by":null,"url":"\/38.2-4509\/"}],"refers_to":[{"id":79926,"section_number":"38.2-1306.3","catch_line":"Nonadmitted assets","order_by":null,"url":"\/38.2-1306.3\/"},{"id":86737,"section_number":"38.2-2500","catch_line":"Scope of chapter","order_by":null,"url":"\/38.2-2500\/"}],"permalink":{"id":211475,"object_type":"law","relational_id":60506,"identifier":"38.2-1306.2","token":"38.2\/13\/2\/38.2-1306.2","url":"\/38.2-1306.2\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1306.2\/","token":"38.2\/13\/2\/38.2-1306.2","dublin_core":{"Title":"Valuation of investments and other assets","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1306.2","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The value of investments and other assets<\/span>, other than those not admitted pursuant to \u00a7 38.2-1306.3<\/a>, and their reporting as admitted or nonadmitted assets<\/span> shall be determined in accordance with valuations or valuation guidance set forth in the National Association of Insurance<\/span> Commissioners<\/span> (NAIC) accounting practices and procedures manuals. The Commission<\/span> may grant exception to or modification of NAIC accounting practices and procedures otherwise prescribed by this section upon petition<\/span> from an insurer<\/span> organized and operating under the laws<\/span> of this Commonwealth and licensed pursuant to the provisions of Chapter 25 (\u00a7 38.2-2500<\/a> et seq.) of this title.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nVALUATION OF INVESTMENTS AND OTHER ASSETS (\u00a7 38.2-1306.2)\n\nThe value of investments and other assets, other than those not admitted\npursuant to \u00a7 38.2-1306.3, and their reporting as admitted or nonadmitted\nassets shall be determined in accordance with valuations or valuation guidance\nset forth in the National Association of Insurance Commissioners (NAIC)\naccounting practices and procedures manuals. The Commission may grant exception\nto or modification of NAIC accounting practices and procedures otherwise\nprescribed by this section upon petition from an insurer organized and operating\nunder the laws of this Commonwealth and licensed pursuant to the provisions of\nChapter 25 (\u00a7 38.2-2500 et seq.) of this title.\n\nHISTORY: 1992, c. 588; 1993, c. 158; 2000, c. 46.","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}}