{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1425.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1425.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1425.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1425.html"}],"law_id":79550,"edition_id":1,"section_id":79550,"structure_id":14741,"section_number":"38.2-1425","catch_line":"Common stock of banks or trust companies","history":"1983, c. 457, \u00a7 38.1-217.28; 1986, c. 562; 2000, c. 155.","full_text":"A\n\nA domestic insurer may invest in the common capital stock of any bank or trust company that is a member of the Federal Deposit Insurance Corporation.B\n\nNo domestic insurer shall invest in more than ten percent of the actually issued and outstanding common capital stock of any one such bank or trust company.C\n\nFor the purpose of this section, the term &#8220;bank&#8221; includes a registered bank holding company as defined by the Federal Bank Holding Act of 1956, as amended, and a registered bank holding company shall be considered a member of the Federal Deposit Insurance Corporation if all its subsidiary banks are members of the Federal Deposit Insurance Corporation.","order_by":null,"text":{"0":{"id":285066,"text":"A domestic insurer may invest in the common capital stock of any bank or trust company that is a member of the Federal Deposit Insurance Corporation.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":285067,"text":"No domestic insurer shall invest in more than ten percent of the actually issued and outstanding common capital stock of any one such bank or trust company.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":285068,"text":"For the purpose of this section, the term &#8220;bank&#8221; includes a registered bank holding company as defined by the Federal Bank Holding Act of 1956, as amended, and a registered bank holding company shall be considered a member of the Federal Deposit Insurance Corporation if all its subsidiary banks are members of the Federal Deposit Insurance Corporation.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1425\/","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 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 1986, chapter 562; in 2000, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?001+ful+CHAP0155\">155<\/a>.<\/p>","references":[{"id":81959,"section_number":"38.2-1414","catch_line":"Limits by type of investment","order_by":null,"url":"\/38.2-1414\/"},{"id":57257,"section_number":"38.2-1422","catch_line":"Obligations secured by certain leases","order_by":null,"url":"\/38.2-1422\/"}],"refers_to":false,"permalink":{"id":212001,"object_type":"law","relational_id":79550,"identifier":"38.2-1425","token":"38.2\/14\/2\/38.2-1425","url":"\/38.2-1425\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1425\/","token":"38.2\/14\/2\/38.2-1425","dublin_core":{"Title":"Common stock of banks or trust companies","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1425","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 in the common capital stock of any <span class=\"dictionary\">bank<\/span> or trust <span class=\"dictionary\">company<\/span> that is a member of the Federal Deposit <span class=\"dictionary\">Insurance<\/span> Corporation. <a id=\"paragraph-285066\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1425\/#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> No domestic <span class=\"dictionary\">insurer<\/span> shall invest in more than ten percent of the actually issued and outstanding common capital stock of any one such <span class=\"dictionary\">bank<\/span> or trust <span class=\"dictionary\">company<\/span>. <a id=\"paragraph-285067\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1425\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"C\"><p><span class=\"prefix-number\">C.<\/span> For the purpose of this section, the term &#8220;<span class=\"dictionary\">bank<\/span>&#8221; includes a registered <span class=\"dictionary\">bank<\/span> holding <span class=\"dictionary\">company<\/span> as defined by the Federal <span class=\"dictionary\">Bank<\/span> Holding Act of 1956, as amended, and a registered <span class=\"dictionary\">bank<\/span> holding <span class=\"dictionary\">company<\/span> shall be considered a member of the Federal Deposit <span class=\"dictionary\">Insurance<\/span> Corporation if all its subsidiary <span class=\"dictionary\">banks<\/span> are members of the Federal Deposit <span class=\"dictionary\">Insurance<\/span> Corporation. <a id=\"paragraph-285068\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1425\/#C\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nCOMMON STOCK OF BANKS OR TRUST COMPANIES (\u00a7 38.2-1425)\n\nA. A domestic insurer may invest in the common capital stock of any bank or\ntrust company that is a member of the Federal Deposit Insurance Corporation.\n\nB. No domestic insurer shall invest in more than ten percent of the actually\nissued and outstanding common capital stock of any one such bank or trust\ncompany.\n\nC. For the purpose of this section, the term &#8220;bank&#8221; includes a\nregistered bank holding company as defined by the Federal Bank Holding Act of\n1956, as amended, and a registered bank holding company shall be considered a\nmember of the Federal Deposit Insurance Corporation if all its subsidiary banks\nare members of the Federal Deposit Insurance Corporation.\n\nHISTORY: 1983, c. 457, \u00a7 38.1-217.28; 1986, c. 562; 2000, c. 155.","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}}