{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1413.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1413.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1413.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1413.html"}],"law_id":80227,"edition_id":1,"section_id":80227,"structure_id":14741,"section_number":"38.2-1413","catch_line":"Investment limits for one obligor, one issue or one loan","history":"1983, c. 457, \u00a7 38.1-217.16; 1986, c. 562; 1990, c. 893; 1992, c. 588; 1995, c. 60; 1998, c. 414; 2002, c. 73.","full_text":"A\n\nNo domestic insurer shall have at any one time any combination of investments in or loans upon the security of the property and securities of any one obligor or issuer aggregating an amount exceeding the lesser of five percent of the insurer’s total admitted assets or twenty percent of the insurer’s surplus to policyholders. The limitations prescribed by this section shall not apply to the following:1\n\nInvestments in or loans upon the security of general obligations of the United States;2\n\nInvestments in foreign securities made eligible by subsection A of § 38.2-1433;3\n\nInvestments in mortgage pass-through securities made eligible by § 38.2-1437.1;4\n\nDeposits in institutions insured by a federal deposit insuring agency to the extent of coverage by such deposit insuring agency;5\n\nInvestments in subsidiaries made eligible by § 38.2-1427.3;6\n\nInvestments in obligations of an agency or instrumentality of the United States made eligible by subsection B of § 38.2-1415; provided that at no time shall the insurer invest pursuant to subsection B of § 38.2-1415 in excess of ten percent of its total admitted assets in any one obligor or issuer of such obligations; or7\n\nOther assets defined or classified by the National Association of Insurance Commissioners accounting practices and procedure manual, or any successor publication, as cash or cash equivalents or as a short term investment that is rated “AAA” or better or the equivalent rating by Moody’s Investors Service, Inc., Standard & Poor’s or Fitch IBCA, or any successor to the rating business of any of them, provided that at no time shall the amount of any such asset placed for or by the insurer in or with any one depository, issue, obligor, or issuer exceed the lesser of ten percent of the insurer’s total admitted assets or twenty percent of the insurer’s surplus to policyholders.B\n\nNo domestic insurer shall invest in excess of one percent of its total admitted assets in any one issue of any obligations made eligible for investment under § 38.2-1423 or § 38.2-1424.C\n\nNo domestic insurer shall invest in excess of one-half of one percent of its total admitted assets in any one loan made eligible by subdivision 3 of § 38.2-1434.D\n\nThe principal loan amount disbursed, excluding advances made to enforce or protect the security for the loan, by a domestic insurer under any single wrap-around mortgage made pursuant to § 38.2-1435 shall not exceed one percent of its total admitted assets.E\n\nThe amount loaned under § 38.2-1430 shall be subject to the limitations of this section applicable to the kinds of securities or obligations pledged in connection with the loan.","order_by":null,"text":{"0":{"id":287185,"text":"No domestic insurer shall have at any one time any combination of investments in or loans upon the security of the property and securities of any one obligor or issuer aggregating an amount exceeding the lesser of five percent of the insurer’s total admitted assets or twenty percent of the insurer’s surplus to policyholders. The limitations prescribed by this section shall not apply to the following:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":287186,"text":"Investments in or loans upon the security of general obligations of the United States;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":287187,"text":"Investments in foreign securities made eligible by subsection A of § 38.2-1433;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":287188,"text":"Investments in mortgage pass-through securities made eligible by § 38.2-1437.1;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":287189,"text":"Deposits in institutions insured by a federal deposit insuring agency to the extent of coverage by such deposit insuring agency;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":287190,"text":"Investments in subsidiaries made eligible by § 38.2-1427.3;","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":287191,"text":"Investments in obligations of an agency or instrumentality of the United States made eligible by subsection B of § 38.2-1415; provided that at no time shall the insurer invest pursuant to subsection B of § 38.2-1415 in excess of ten percent of its total admitted assets in any one obligor or issuer of such obligations; or","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"A7"},"7":{"id":287192,"text":"Other assets defined or classified by the National Association of Insurance Commissioners accounting practices and procedure manual, or any successor publication, as cash or cash equivalents or as a short term investment that is rated “AAA” or better or the equivalent rating by Moody’s Investors Service, Inc., Standard & Poor’s or Fitch IBCA, or any successor to the rating business of any of them, provided that at no time shall the amount of any such asset placed for or by the insurer in or with any one depository, issue, obligor, or issuer exceed the lesser of ten percent of the insurer’s total admitted assets or twenty percent of the insurer’s surplus to policyholders.","type":"section","prefixes":["A","7"],"prefix":"7","entire_prefix":"A7","prefix_anchor":"A7","level":2,"prior_prefix":"A6","next_prefix":"B"},"8":{"id":287193,"text":"No domestic insurer shall invest in excess of one percent of its total admitted assets in any one issue of any obligations made eligible for investment under § 38.2-1423 or § 38.2-1424.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A7","next_prefix":"C"},"9":{"id":287194,"text":"No domestic insurer shall invest in excess of one-half of one percent of its total admitted assets in any one loan made eligible by subdivision 3 of § 38.2-1434.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"10":{"id":287195,"text":"The principal loan amount disbursed, excluding advances made to enforce or protect the security for the loan, by a domestic insurer under any single wrap-around mortgage made pursuant to § 38.2-1435 shall not exceed one percent of its total admitted assets.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"11":{"id":287196,"text":"The amount loaned under § 38.2-1430 shall be subject to the limitations of this section applicable to the kinds of securities or obligations pledged in connection with the loan.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D"}},"ancestry":[{"id":14741,"edition_id":1,"name":"Category 1 Investments","identifier":"2","label":"article","depth":3,"order_by":1,"parent_id":13282,"metadata":{},"date_created":"2026-06-26 03:49:39","date_modified":"2026-06-26 03:49:39","permalink":{"id":211947,"object_type":"structure","relational_id":14741,"identifier":"2","token":"38.2\/14\/2","url":"\/38.2\/14\/2\/","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":78849,"structure_id":14741,"section_number":"38.2-1412","catch_line":"Scope of article","url":"\/38.2-1412\/","token":"38.2\/14\/2\/38.2-1412","metadata":false},{"id":80227,"structure_id":14741,"section_number":"38.2-1413","catch_line":"Investment limits for one obligor, one issue or one loan","url":"\/38.2-1413\/","token":"38.2\/14\/2\/38.2-1413","metadata":false},{"id":81959,"structure_id":14741,"section_number":"38.2-1414","catch_line":"Limits by type of investment","url":"\/38.2-1414\/","token":"38.2\/14\/2\/38.2-1414","metadata":false},{"id":84933,"structure_id":14741,"section_number":"38.2-1415","catch_line":"Obligations of domestic governmental entities","url":"\/38.2-1415\/","token":"38.2\/14\/2\/38.2-1415","metadata":false},{"id":57477,"structure_id":14741,"section_number":"38.2-1416","catch_line":"Canadian governmental obligations","url":"\/38.2-1416\/","token":"38.2\/14\/2\/38.2-1416","metadata":false},{"id":73318,"structure_id":14741,"section_number":"38.2-1417","catch_line":"Canadian corporate obligations","url":"\/38.2-1417\/","token":"38.2\/14\/2\/38.2-1417","metadata":false},{"id":82385,"structure_id":14741,"section_number":"38.2-1418","catch_line":"Obligations of certain international agencies","url":"\/38.2-1418\/","token":"38.2\/14\/2\/38.2-1418","metadata":false},{"id":82955,"structure_id":14741,"section_number":"38.2-1419","catch_line":"Railroad terminal and other securities","url":"\/38.2-1419\/","token":"38.2\/14\/2\/38.2-1419","metadata":false},{"id":87150,"structure_id":14741,"section_number":"38.2-1420","catch_line":"Transportation equipment trust certificates","url":"\/38.2-1420\/","token":"38.2\/14\/2\/38.2-1420","metadata":false},{"id":59466,"structure_id":14741,"section_number":"38.2-1421","catch_line":"Business entity obligations","url":"\/38.2-1421\/","token":"38.2\/14\/2\/38.2-1421","metadata":false},{"id":57257,"structure_id":14741,"section_number":"38.2-1422","catch_line":"Obligations secured by certain leases","url":"\/38.2-1422\/","token":"38.2\/14\/2\/38.2-1422","metadata":false},{"id":56462,"structure_id":14741,"section_number":"38.2-1423","catch_line":"Preferred stocks","url":"\/38.2-1423\/","token":"38.2\/14\/2\/38.2-1423","metadata":false},{"id":75394,"structure_id":14741,"section_number":"38.2-1424","catch_line":"Guaranteed stocks","url":"\/38.2-1424\/","token":"38.2\/14\/2\/38.2-1424","metadata":false},{"id":79550,"structure_id":14741,"section_number":"38.2-1425","catch_line":"Common stock of banks or trust companies","url":"\/38.2-1425\/","token":"38.2\/14\/2\/38.2-1425","metadata":false},{"id":77680,"structure_id":14741,"section_number":"38.2-1426","catch_line":"Application of earnings tests","url":"\/38.2-1426\/","token":"38.2\/14\/2\/38.2-1426","metadata":false},{"id":69831,"structure_id":14741,"section_number":"38.2-1427","catch_line":"Common stock; covered call options","url":"\/38.2-1427\/","token":"38.2\/14\/2\/38.2-1427","metadata":false},{"id":83916,"structure_id":14741,"section_number":"38.2-1427.1","catch_line":"Limited partnerships","url":"\/38.2-1427.1\/","token":"38.2\/14\/2\/38.2-1427.1","metadata":false},{"id":86379,"structure_id":14741,"section_number":"38.2-1427.2","catch_line":"Investment company shares and units of beneficial interest","url":"\/38.2-1427.2\/","token":"38.2\/14\/2\/38.2-1427.2","metadata":false},{"id":74587,"structure_id":14741,"section_number":"38.2-1427.3","catch_line":"Investment authority; subsidiary corporations","url":"\/38.2-1427.3\/","token":"38.2\/14\/2\/38.2-1427.3","metadata":false},{"id":69711,"structure_id":14741,"section_number":"38.2-1428","catch_line":"Derivative instruments","url":"\/38.2-1428\/","token":"38.2\/14\/2\/38.2-1428","metadata":false},{"id":80990,"structure_id":14741,"section_number":"38.2-1429","catch_line":"Lending of securities","url":"\/38.2-1429\/","token":"38.2\/14\/2\/38.2-1429","metadata":false},{"id":86617,"structure_id":14741,"section_number":"38.2-1430","catch_line":"Collateral loans","url":"\/38.2-1430\/","token":"38.2\/14\/2\/38.2-1430","metadata":false},{"id":69205,"structure_id":14741,"section_number":"38.2-1431","catch_line":"Policy loans","url":"\/38.2-1431\/","token":"38.2\/14\/2\/38.2-1431","metadata":false},{"id":74795,"structure_id":14741,"section_number":"38.2-1432","catch_line":"Savings, certificates, etc","url":"\/38.2-1432\/","token":"38.2\/14\/2\/38.2-1432","metadata":false},{"id":79072,"structure_id":14741,"section_number":"38.2-1433","catch_line":"Foreign securities","url":"\/38.2-1433\/","token":"38.2\/14\/2\/38.2-1433","metadata":false},{"id":71966,"structure_id":14741,"section_number":"38.2-1434","catch_line":"Mortgage loans","url":"\/38.2-1434\/","token":"38.2\/14\/2\/38.2-1434","metadata":false},{"id":75123,"structure_id":14741,"section_number":"38.2-1435","catch_line":"Second mortgages; wrap-around mortgages","url":"\/38.2-1435\/","token":"38.2\/14\/2\/38.2-1435","metadata":false},{"id":78317,"structure_id":14741,"section_number":"38.2-1436","catch_line":"Mortgage participations","url":"\/38.2-1436\/","token":"38.2\/14\/2\/38.2-1436","metadata":false},{"id":67740,"structure_id":14741,"section_number":"38.2-1437","catch_line":"Limitations on mortgages","url":"\/38.2-1437\/","token":"38.2\/14\/2\/38.2-1437","metadata":false},{"id":80668,"structure_id":14741,"section_number":"38.2-1437.1","catch_line":"Mortgage pass-through securities","url":"\/38.2-1437.1\/","token":"38.2\/14\/2\/38.2-1437.1","metadata":false},{"id":64298,"structure_id":14741,"section_number":"38.2-1438","catch_line":"Renewals and extensions when value of property decreases","url":"\/38.2-1438\/","token":"38.2\/14\/2\/38.2-1438","metadata":false},{"id":62837,"structure_id":14741,"section_number":"38.2-1439","catch_line":"Chattel mortgages","url":"\/38.2-1439\/","token":"38.2\/14\/2\/38.2-1439","metadata":false},{"id":65110,"structure_id":14741,"section_number":"38.2-1440","catch_line":"Investment in personal property","url":"\/38.2-1440\/","token":"38.2\/14\/2\/38.2-1440","metadata":false},{"id":74841,"structure_id":14741,"section_number":"38.2-1441","catch_line":"Real estate","url":"\/38.2-1441\/","token":"38.2\/14\/2\/38.2-1441","metadata":false},{"id":58210,"structure_id":14741,"section_number":"38.2-1442","catch_line":"Guaranty association obligations","url":"\/38.2-1442\/","token":"38.2\/14\/2\/38.2-1442","metadata":false}],"previous_section":{"id":78849,"structure_id":14741,"section_number":"38.2-1412","catch_line":"Scope of article","url":"\/38.2-1412\/","token":"38.2\/14\/2\/38.2-1412","metadata":false},"next_section":{"id":81959,"structure_id":14741,"section_number":"38.2-1414","catch_line":"Limits by type of investment","url":"\/38.2-1414\/","token":"38.2\/14\/2\/38.2-1414","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1413\/","history_text":"

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 6 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 1986, chapter 562; in 1990, chapter 893; in 1992, chapter 588; in 1995, chapter 60<\/a>; in 1998, chapter 414<\/a>; in 2002, chapter 73<\/a>.<\/p>","references":[{"id":63632,"section_number":"38.2-1443.1","catch_line":"Investment of amounts allocated to separate accounts for modified guaranteed life insurance, modified guaranteed annuities, and funding agreements","order_by":null,"url":"\/38.2-1443.1\/"}],"refers_to":[{"id":84933,"section_number":"38.2-1415","catch_line":"Obligations of domestic governmental entities","order_by":null,"url":"\/38.2-1415\/"},{"id":56462,"section_number":"38.2-1423","catch_line":"Preferred stocks","order_by":null,"url":"\/38.2-1423\/"},{"id":74587,"section_number":"38.2-1427.3","catch_line":"Investment authority; subsidiary corporations","order_by":null,"url":"\/38.2-1427.3\/"},{"id":86617,"section_number":"38.2-1430","catch_line":"Collateral loans","order_by":null,"url":"\/38.2-1430\/"},{"id":79072,"section_number":"38.2-1433","catch_line":"Foreign securities","order_by":null,"url":"\/38.2-1433\/"},{"id":75123,"section_number":"38.2-1435","catch_line":"Second mortgages; wrap-around mortgages","order_by":null,"url":"\/38.2-1435\/"},{"id":80668,"section_number":"38.2-1437.1","catch_line":"Mortgage pass-through securities","order_by":null,"url":"\/38.2-1437.1\/"}],"permalink":{"id":211953,"object_type":"law","relational_id":80227,"identifier":"38.2-1413","token":"38.2\/14\/2\/38.2-1413","url":"\/38.2-1413\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1413\/","token":"38.2\/14\/2\/38.2-1413","dublin_core":{"Title":"Investment limits for one obligor, one issue or one loan","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1413","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> No domestic insurer<\/span> shall have at any one time any combination of investments in or loans upon the security of the property and securities of any one obligor or issuer aggregating an amount exceeding the lesser of five percent of the insurer<\/span>’s total admitted assets<\/span> or twenty percent of the insurer<\/span>’s surplus to policyholders<\/span>. The limitations prescribed by this section shall not apply to the following: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Investments in or loans upon the security of general obligations<\/span> of the United States<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Investments in foreign securities made eligible by subsection A of § 38.2-1433<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Investments in mortgage pass-through securities made eligible by § 38.2-1437.1<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Deposits in institutions insured by a federal deposit insuring agency to the extent of coverage by such deposit insuring agency; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Investments in subsidiaries made eligible by § 38.2-1427.3<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Investments in obligations<\/span> of an agency or instrumentality of the United States<\/span> made eligible by subsection B of § 38.2-1415<\/a>; provided that at no time shall the insurer<\/span> invest pursuant to subsection B of § 38.2-1415<\/a> in excess of ten percent of its total admitted assets<\/span> in any one obligor or issuer of such obligations<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Other assets<\/span> defined or classified by the National Association of Insurance<\/span> Commissioners<\/span> accounting practices and procedure manual, or any successor publication, as cash or cash equivalents or as a short term investment that is rated “AAA” or better or the equivalent rating by Moody’s Investors Service, Inc., Standard & Poor’s or Fitch IBCA, or any successor to the rating business of any of them, provided that at no time shall the amount of any such asset placed for or by the insurer<\/span> in or with any one depository, issue<\/span>, obligor, or issuer exceed the lesser of ten percent of the insurer<\/span>’s total admitted assets<\/span> or twenty percent of the insurer<\/span>’s surplus to policyholders<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> No domestic insurer<\/span> shall invest in excess of one percent of its total admitted assets<\/span> in any one issue<\/span> of any obligations<\/span> made eligible for investment under § 38.2-1423<\/a> or § 38.2-1424<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> No domestic insurer<\/span> shall invest in excess of one-half of one percent of its total admitted assets<\/span> in any one loan made eligible by subdivision 3 of § 38.2-1434<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The principal loan amount disbursed, excluding advances made to enforce or protect the security for the loan, by a domestic insurer<\/span> under any single wrap-around mortgage<\/span> made pursuant to § 38.2-1435<\/a> shall not exceed one percent of its total admitted assets<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> The amount loaned under § 38.2-1430<\/a> shall be subject to the limitations of this section applicable to the kinds of securities or obligations<\/span> pledged in connection with the loan. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nINVESTMENT LIMITS FOR ONE OBLIGOR, ONE ISSUE OR ONE LOAN (\u00a7 38.2-1413)\n\nA. No domestic insurer shall have at any one time any combination of investments\nin or loans upon the security of the property and securities of any one obligor\nor issuer aggregating an amount exceeding the lesser of five percent of the\ninsurer’s total admitted assets or twenty percent of the insurer’s\nsurplus to policyholders. The limitations prescribed by this section shall not\napply to the following:\n\n 1. Investments in or loans upon the security of general obligations of the\n United States;\n\n 2. Investments in foreign securities made eligible by subsection A of §\n 38.2-1433;\n\n 3. Investments in mortgage pass-through securities made eligible by §\n 38.2-1437.1;\n\n 4. Deposits in institutions insured by a federal deposit insuring agency to\n the extent of coverage by such deposit insuring agency;\n\n 5. Investments in subsidiaries made eligible by § 38.2-1427.3;\n\n 6. Investments in obligations of an agency or instrumentality of the United\n States made eligible by subsection B of § 38.2-1415; provided that at no\n time shall the insurer invest pursuant to subsection B of § 38.2-1415 in\n excess of ten percent of its total admitted assets in any one obligor or\n issuer of such obligations; or\n\n 7. Other assets defined or classified by the National Association of Insurance\n Commissioners accounting practices and procedure manual, or any successor\n publication, as cash or cash equivalents or as a short term investment that is\n rated “AAA” or better or the equivalent rating by Moody’s\n Investors Service, Inc., Standard & Poor’s or Fitch IBCA, or any\n successor to the rating business of any of them, provided that at no time\n shall the amount of any such asset placed for or by the insurer in or with any\n one depository, issue, obligor, or issuer exceed the lesser of ten percent of\n the insurer’s total admitted assets or twenty percent of the\n insurer’s surplus to policyholders.\n\nB. No domestic insurer shall invest in excess of one percent of its total\nadmitted assets in any one issue of any obligations made eligible for investment\nunder § 38.2-1423 or § 38.2-1424.\n\nC. No domestic insurer shall invest in excess of one-half of one percent of its\ntotal admitted assets in any one loan made eligible by subdivision 3 of §\n38.2-1434.\n\nD. The principal loan amount disbursed, excluding advances made to enforce or\nprotect the security for the loan, by a domestic insurer under any single\nwrap-around mortgage made pursuant to § 38.2-1435 shall not exceed one\npercent of its total admitted assets.\n\nE. The amount loaned under § 38.2-1430 shall be subject to the limitations\nof this section applicable to the kinds of securities or obligations pledged in\nconnection with the loan.\n\nHISTORY: 1983, c. 457, \u00a7 38.1-217.16; 1986, c. 562; 1990, c. 893; 1992, c. 588;\n1995, c. 60; 1998, c. 414; 2002, c. 73.","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}}