{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-3119.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-3119.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-3119.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-3119.html"}],"law_id":66383,"edition_id":1,"section_id":66383,"structure_id":14931,"section_number":"38.2-3119","catch_line":"Limitation on \u00a7 38.2-3118","history":"Code 1950, \u00a7 38-116; 1952, c. 317, \u00a7 38.1-445; 1986, c. 562.","full_text":"A\n\nThe provisions of § 38.2-3118 shall not apply to any proportionate part of the proceeds of any such policy or supplemental contract mentioned in § 38.2-3118 arising or resulting from premiums paid by the beneficiary. The proportionate part of the proceeds shall be determined by comparing the total premiums paid for the policy, without interest, with the premiums for the policy, without interest, paid by the beneficiary.B\n\nNotwithstanding the other provisions of this section, an insurer who (i) has no written notice of any claim that premiums have been paid by the beneficiary and (ii) has no written notice of an adverse claim of any other character under this section, shall be protected in making or withholding payments pursuant to the terms of a policy or supplemental agreement.C\n\nNotwithstanding the other provisions of this section, upon an insurer’s acceptance of proof that premiums have been paid by the beneficiary and the insurer’s payment of the corresponding proportionate part of the proceeds of the policy or supplemental agreement, the insurer’s payment shall constitute full release of the insurer from all liability with respect to the proportionate part of the proceeds of the policy or supplemental agreement.","order_by":null,"text":{"0":{"id":240990,"text":"The provisions of § 38.2-3118 shall not apply to any proportionate part of the proceeds of any such policy or supplemental contract mentioned in § 38.2-3118 arising or resulting from premiums paid by the beneficiary. The proportionate part of the proceeds shall be determined by comparing the total premiums paid for the policy, without interest, with the premiums for the policy, without interest, paid by the beneficiary.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":240991,"text":"Notwithstanding the other provisions of this section, an insurer who (i) has no written notice of any claim that premiums have been paid by the beneficiary and (ii) has no written notice of an adverse claim of any other character under this section, shall be protected in making or withholding payments pursuant to the terms of a policy or supplemental agreement.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":240992,"text":"Notwithstanding the other provisions of this section, upon an insurer’s acceptance of proof that premiums have been paid by the beneficiary and the insurer’s payment of the corresponding proportionate part of the proceeds of the policy or supplemental agreement, the insurer’s payment shall constitute full release of the insurer from all liability with respect to the proportionate part of the proceeds of the policy or supplemental agreement.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":14931,"edition_id":1,"name":"Proceeds of Certain Policies","identifier":"2","label":"article","depth":3,"order_by":1,"parent_id":13292,"metadata":{},"date_created":"2026-06-26 03:50:52","date_modified":"2026-06-26 03:50:52","permalink":{"id":214461,"object_type":"structure","relational_id":14931,"identifier":"2","token":"38.2\/31\/2","url":"\/38.2\/31\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13292,"edition_id":1,"name":"Life Insurance","identifier":"31","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":214331,"object_type":"structure","relational_id":13292,"identifier":"31","token":"38.2\/31","url":"\/38.2\/31\/","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":84737,"structure_id":14931,"section_number":"38.2-3118","catch_line":"Spendthrift trusts created under life insurance policies","url":"\/38.2-3118\/","token":"38.2\/31\/2\/38.2-3118","metadata":false},{"id":66383,"structure_id":14931,"section_number":"38.2-3119","catch_line":"Limitation on \u00a7 38.2-3118","url":"\/38.2-3119\/","token":"38.2\/31\/2\/38.2-3119","metadata":false},{"id":76489,"structure_id":14931,"section_number":"38.2-3120","catch_line":"Repealed","url":"\/38.2-3120\/","token":"38.2\/31\/2\/38.2-3120","metadata":false},{"id":56979,"structure_id":14931,"section_number":"38.2-3121","catch_line":"Segregation of proceeds not required","url":"\/38.2-3121\/","token":"38.2\/31\/2\/38.2-3121","metadata":false},{"id":83224,"structure_id":14931,"section_number":"38.2-3122","catch_line":"Proceeds and avails of life insurance policies and annuity contracts free of certain claims","url":"\/38.2-3122\/","token":"38.2\/31\/2\/38.2-3122","metadata":false},{"id":62935,"structure_id":14931,"section_number":"38.2-3122.1","catch_line":"Annuity contract purchased to fund retirement benefits; protection from creditor's claims","url":"\/38.2-3122.1\/","token":"38.2\/31\/2\/38.2-3122.1","metadata":false},{"id":79949,"structure_id":14931,"section_number":"38.2-3123","catch_line":"Repealed","url":"\/38.2-3123\/","token":"38.2\/31\/2\/38.2-3123","metadata":false},{"id":80079,"structure_id":14931,"section_number":"38.2-3124","catch_line":"Protection of insurers from creditor's claims","url":"\/38.2-3124\/","token":"38.2\/31\/2\/38.2-3124","metadata":false},{"id":77784,"structure_id":14931,"section_number":"38.2-3125","catch_line":"Other rights of beneficiaries and assignees protected","url":"\/38.2-3125\/","token":"38.2\/31\/2\/38.2-3125","metadata":false}],"previous_section":{"id":84737,"structure_id":14931,"section_number":"38.2-3118","catch_line":"Spendthrift trusts created under life insurance policies","url":"\/38.2-3118\/","token":"38.2\/31\/2\/38.2-3118","metadata":false},"next_section":{"id":76489,"structure_id":14931,"section_number":"38.2-3120","catch_line":"Repealed","url":"\/38.2-3120\/","token":"38.2\/31\/2\/38.2-3120","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3119\/","history_text":"

The record of this law\u2019s original creation isn\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 1952, chapter 317; in 1986, chapter 562.<\/p>","references":false,"refers_to":[{"id":84737,"section_number":"38.2-3118","catch_line":"Spendthrift trusts created under life insurance policies","order_by":null,"url":"\/38.2-3118\/"}],"permalink":{"id":214467,"object_type":"law","relational_id":66383,"identifier":"38.2-3119","token":"38.2\/31\/2\/38.2-3119","url":"\/38.2-3119\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-3119\/","token":"38.2\/31\/2\/38.2-3119","dublin_core":{"Title":"Limitation on \u00a7 38.2-3118","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3119","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The provisions of § 38.2-3118<\/a> shall not apply to any proportionate part of the proceeds of any such policy or supplemental contract<\/span> mentioned in § 38.2-3118<\/a> arising or resulting from premiums paid by the beneficiary. The proportionate part of the proceeds shall be determined by comparing the total premiums paid for the policy, without interest, with the premiums for the policy, without interest, paid by the beneficiary. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Notwithstanding the other provisions of this section, an insurer<\/span> who (i) has no written notice of any claim that premiums have been paid by the beneficiary and (ii) has no written notice of an adverse claim of any other character under this section, shall be protected in making or withholding payments pursuant to the terms of a policy or supplemental agreement. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Notwithstanding the other provisions of this section, upon an insurer<\/span>’s acceptance of proof that premiums have been paid by the beneficiary and the insurer<\/span>’s payment of the corresponding proportionate part of the proceeds of the policy or supplemental agreement, the insurer<\/span>’s payment shall constitute full release of the insurer<\/span> from all liability with respect to the proportionate part of the proceeds of the policy or supplemental agreement. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLIMITATION ON \u00a7 38.2-3118 (\u00a7 38.2-3119)\n\nA. The provisions of § 38.2-3118 shall not apply to any proportionate part\nof the proceeds of any such policy or supplemental contract mentioned in §\n38.2-3118 arising or resulting from premiums paid by the beneficiary. The\nproportionate part of the proceeds shall be determined by comparing the total\npremiums paid for the policy, without interest, with the premiums for the\npolicy, without interest, paid by the beneficiary.\n\nB. Notwithstanding the other provisions of this section, an insurer who (i) has\nno written notice of any claim that premiums have been paid by the beneficiary\nand (ii) has no written notice of an adverse claim of any other character under\nthis section, shall be protected in making or withholding payments pursuant to\nthe terms of a policy or supplemental agreement.\n\nC. Notwithstanding the other provisions of this section, upon an insurer’s\nacceptance of proof that premiums have been paid by the beneficiary and the\ninsurer’s payment of the corresponding proportionate part of the proceeds\nof the policy or supplemental agreement, the insurer’s payment shall\nconstitute full release of the insurer from all liability with respect to the\nproportionate part of the proceeds of the policy or supplemental agreement.\n\nHISTORY: Code 1950, \u00a7 38-116; 1952, c. 317, \u00a7 38.1-445; 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}}