{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1402.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1402.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1402.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1402.html"}],"law_id":58035,"edition_id":1,"section_id":58035,"structure_id":13283,"section_number":"38.2-1402","catch_line":"Authority to invest; classification of investments by category","history":"1983, c. 457, \u00a7 38.1-217.3; 1986, c. 562.","full_text":"A\n\nA domestic insurer may invest its funds and assets in accordance with this chapter. All investments of a domestic insurer shall be classified as (i) Category 1 investments, (ii) Category 2 investments, or (iii) prohibited investments.B\n\nThe Commission, upon application by an insurer, may classify any investments made or proposed to be made and not otherwise specifically classified in Articles 1 (&#xA7; 38.2-1400 et seq.) and 2 (&#xA7; 38.2-1412 et seq.) of this chapter as a Category 1 investment.","order_by":null,"text":{"0":{"id":212555,"text":"A domestic insurer may invest its funds and assets in accordance with this chapter. All investments of a domestic insurer shall be classified as (i) Category 1 investments, (ii) Category 2 investments, or (iii) prohibited investments.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":212556,"text":"The Commission, upon application by an insurer, may classify any investments made or proposed to be made and not otherwise specifically classified in Articles 1 (&#xA7; 38.2-1400 et seq.) and 2 (&#xA7; 38.2-1412 et seq.) of this chapter as a Category 1 investment.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":13283,"edition_id":1,"name":"General Provisions","identifier":"1","label":"article","depth":3,"order_by":1,"parent_id":13282,"metadata":{},"date_created":"2026-06-26 03:44:34","date_modified":"2026-06-26 03:44:34","permalink":{"id":211889,"object_type":"structure","relational_id":13283,"identifier":"1","token":"38.2\/14\/1","url":"\/38.2\/14\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13282,"edition_id":1,"name":"Investments","identifier":"14","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:44:34","date_modified":"2026-06-26 03:44:34","permalink":{"id":211887,"object_type":"structure","relational_id":13282,"identifier":"14","token":"38.2\/14","url":"\/38.2\/14\/","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":64362,"structure_id":13283,"section_number":"38.2-1400","catch_line":"Scope and purpose of chapter","url":"\/38.2-1400\/","token":"38.2\/14\/1\/38.2-1400","metadata":false},{"id":57145,"structure_id":13283,"section_number":"38.2-1401","catch_line":"Definitions","url":"\/38.2-1401\/","token":"38.2\/14\/1\/38.2-1401","metadata":false},{"id":58035,"structure_id":13283,"section_number":"38.2-1402","catch_line":"Authority to invest; classification of investments by category","url":"\/38.2-1402\/","token":"38.2\/14\/1\/38.2-1402","metadata":false},{"id":85308,"structure_id":13283,"section_number":"38.2-1403","catch_line":"Category 2 investments limits","url":"\/38.2-1403\/","token":"38.2\/14\/1\/38.2-1403","metadata":false},{"id":71387,"structure_id":13283,"section_number":"38.2-1404","catch_line":"Classification of existing investments","url":"\/38.2-1404\/","token":"38.2\/14\/1\/38.2-1404","metadata":false},{"id":80503,"structure_id":13283,"section_number":"38.2-1405","catch_line":"Dates of determination","url":"\/38.2-1405\/","token":"38.2\/14\/1\/38.2-1405","metadata":false},{"id":72007,"structure_id":13283,"section_number":"38.2-1406","catch_line":"Investment conversions","url":"\/38.2-1406\/","token":"38.2\/14\/1\/38.2-1406","metadata":false},{"id":87237,"structure_id":13283,"section_number":"38.2-1407","catch_line":"Prohibited investments","url":"\/38.2-1407\/","token":"38.2\/14\/1\/38.2-1407","metadata":false},{"id":68250,"structure_id":13283,"section_number":"38.2-1408","catch_line":"Authorization of investments","url":"\/38.2-1408\/","token":"38.2\/14\/1\/38.2-1408","metadata":false},{"id":63266,"structure_id":13283,"section_number":"38.2-1409","catch_line":"Powers with respect to property","url":"\/38.2-1409\/","token":"38.2\/14\/1\/38.2-1409","metadata":false},{"id":54275,"structure_id":13283,"section_number":"38.2-1410","catch_line":"Items not deemed to be prior liens or encumbrances","url":"\/38.2-1410\/","token":"38.2\/14\/1\/38.2-1410","metadata":false},{"id":64344,"structure_id":13283,"section_number":"38.2-1411","catch_line":"Repealed","url":"\/38.2-1411\/","token":"38.2\/14\/1\/38.2-1411","metadata":false},{"id":60703,"structure_id":13283,"section_number":"38.2-1411.1","catch_line":"Investment limits generally","url":"\/38.2-1411.1\/","token":"38.2\/14\/1\/38.2-1411.1","metadata":false},{"id":82699,"structure_id":13283,"section_number":"38.2-1411.2","catch_line":"Investment limits in medium grade and lower grade obligations","url":"\/38.2-1411.2\/","token":"38.2\/14\/1\/38.2-1411.2","metadata":false}],"previous_section":{"id":57145,"structure_id":13283,"section_number":"38.2-1401","catch_line":"Definitions","url":"\/38.2-1401\/","token":"38.2\/14\/1\/38.2-1401","metadata":false},"next_section":{"id":85308,"structure_id":13283,"section_number":"38.2-1403","catch_line":"Category 2 investments limits","url":"\/38.2-1403\/","token":"38.2\/14\/1\/38.2-1403","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1402\/","history_text":"<p>This law was first created in 1983. The record of its establishment is cataloged in chapter 457 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 1983 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. 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. That modification is as follows: in 1986, chapter 562.<\/p>","references":[{"id":72007,"section_number":"38.2-1406","catch_line":"Investment conversions","order_by":null,"url":"\/38.2-1406\/"}],"refers_to":[{"id":64362,"section_number":"38.2-1400","catch_line":"Scope and purpose of chapter","order_by":null,"url":"\/38.2-1400\/"},{"id":78849,"section_number":"38.2-1412","catch_line":"Scope of article","order_by":null,"url":"\/38.2-1412\/"}],"permalink":{"id":211899,"object_type":"law","relational_id":58035,"identifier":"38.2-1402","token":"38.2\/14\/1\/38.2-1402","url":"\/38.2-1402\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1402\/","token":"38.2\/14\/1\/38.2-1402","dublin_core":{"Title":"Authority to invest; classification of investments by category","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1402","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> A domestic <span class=\"dictionary\">insurer<\/span> may invest its funds and <span class=\"dictionary\">assets<\/span> in accordance with this chapter. All investments of a domestic <span class=\"dictionary\">insurer<\/span> shall be classified as (i) Category 1 investments, (ii) Category 2 investments, or (iii) <span class=\"dictionary\">prohibited investments<\/span>. <a id=\"paragraph-212555\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1402\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> The <span class=\"dictionary\">Commission<\/span>, upon application by an <span class=\"dictionary\">insurer<\/span>, may classify any investments made or proposed to be made and not otherwise specifically classified in Articles 1 (&#xA7; <a class=\"law\" title=\"Scope and purpose of chapter\" href=\"\/38.2-1400\/\">38.2-1400<\/a> et seq.) and 2 (&#xA7; <a class=\"law\" title=\"Scope of article\" href=\"\/38.2-1412\/\">38.2-1412<\/a> et seq.) of this chapter as a Category 1 investment. <a id=\"paragraph-212556\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1402\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nAUTHORITY TO INVEST; CLASSIFICATION OF INVESTMENTS BY CATEGORY (\u00a7 38.2-1402)\n\nA. A domestic insurer may invest its funds and assets in accordance with this\nchapter. All investments of a domestic insurer shall be classified as (i)\nCategory 1 investments, (ii) Category 2 investments, or (iii) prohibited\ninvestments.\n\nB. The Commission, upon application by an insurer, may classify any investments\nmade or proposed to be made and not otherwise specifically classified in\nArticles 1 (&#xA7; 38.2-1400 et seq.) and 2 (&#xA7; 38.2-1412 et seq.) of this\nchapter as a Category 1 investment.\n\nHISTORY: 1983, c. 457, \u00a7 38.1-217.3; 1986, c. 562.","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}}