{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-3216.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-3216.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-3216.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-3216.html"}],"law_id":68021,"edition_id":1,"section_id":68021,"structure_id":14541,"section_number":"38.2-3216","catch_line":"Same; operative date for \u00a7 38.2-3208","history":"1962, c. 562, \u00a7 38.1-468.2; 1986, c. 562.","full_text":"After July 1, 1962, any insurer may file with the Commission a written notice of its election to comply with the provisions of \u00a7 38.2-3208 after a specified date before January 1, 1968. After the filing of the notice, then upon the specified date, which shall be the operative date of this section for the insurer, \u00a7 38.2-3208 shall become operative with respect to the industrial policies thereafter issued by that insurer. If an insurer makes no election, the operative date of \u00a7 38.2-3208 for the insurer shall be January 1, 1968.","order_by":null,"text":{"0":{"id":246261,"text":"After July 1, 1962, any insurer may file with the Commission a written notice of its election to comply with the provisions of \u00a7 38.2-3208 after a specified date before January 1, 1968. After the filing of the notice, then upon the specified date, which shall be the operative date of this section for the insurer, \u00a7 38.2-3208 shall become operative with respect to the industrial policies thereafter issued by that insurer. If an insurer makes no election, the operative date of \u00a7 38.2-3208 for the insurer shall be January 1, 1968.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14541,"edition_id":1,"name":"Standard Nonforfeiture Provisions for Life Insurance","identifier":"32","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:48:35","date_modified":"2026-06-26 03:48:35","permalink":{"id":214505,"object_type":"structure","relational_id":14541,"identifier":"32","token":"38.2\/32","url":"\/38.2\/32\/","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":78309,"structure_id":14541,"section_number":"38.2-3200","catch_line":"Nonforfeiture benefits and cash surrender values in life policies issued prior to operative date stated in \u00a7 38.2-3214","url":"\/38.2-3200\/","token":"38.2\/32\/38.2-3200","metadata":false},{"id":71133,"structure_id":14541,"section_number":"38.2-3201","catch_line":"Same; for industrial life policies","url":"\/38.2-3201\/","token":"38.2\/32\/38.2-3201","metadata":false},{"id":57831,"structure_id":14541,"section_number":"38.2-3202","catch_line":"Standard nonforfeiture law; required policy provisions","url":"\/38.2-3202\/","token":"38.2\/32\/38.2-3202","metadata":false},{"id":77891,"structure_id":14541,"section_number":"38.2-3203","catch_line":"Same; cash surrender value in case of default","url":"\/38.2-3203\/","token":"38.2\/32\/38.2-3203","metadata":false},{"id":79190,"structure_id":14541,"section_number":"38.2-3204","catch_line":"Same; present value of paid-up nonforfeiture benefits on default","url":"\/38.2-3204\/","token":"38.2\/32\/38.2-3204","metadata":false},{"id":61365,"structure_id":14541,"section_number":"38.2-3205","catch_line":"Same; calculation of adjusted premiums","url":"\/38.2-3205\/","token":"38.2\/32\/38.2-3205","metadata":false},{"id":75902,"structure_id":14541,"section_number":"38.2-3206","catch_line":"Same; tables used for calculations","url":"\/38.2-3206\/","token":"38.2\/32\/38.2-3206","metadata":false},{"id":59688,"structure_id":14541,"section_number":"38.2-3207","catch_line":"Same; use of new mortality table; ordinary policies","url":"\/38.2-3207\/","token":"38.2\/32\/38.2-3207","metadata":false},{"id":85809,"structure_id":14541,"section_number":"38.2-3208","catch_line":"Same; industrial policies","url":"\/38.2-3208\/","token":"38.2\/32\/38.2-3208","metadata":false},{"id":77084,"structure_id":14541,"section_number":"38.2-3209","catch_line":"Same; adjusted premiums for policies","url":"\/38.2-3209\/","token":"38.2\/32\/38.2-3209","metadata":false},{"id":80831,"structure_id":14541,"section_number":"38.2-3210","catch_line":"Same; life insurance providing future premium determination","url":"\/38.2-3210\/","token":"38.2\/32\/38.2-3210","metadata":false},{"id":60003,"structure_id":14541,"section_number":"38.2-3211","catch_line":"Same; other factors in calculations","url":"\/38.2-3211\/","token":"38.2\/32\/38.2-3211","metadata":false},{"id":70462,"structure_id":14541,"section_number":"38.2-3212","catch_line":"Same; policies issued on or after January 1, 1986","url":"\/38.2-3212\/","token":"38.2\/32\/38.2-3212","metadata":false},{"id":85497,"structure_id":14541,"section_number":"38.2-3213","catch_line":"Same; exemptions from application of certain sections","url":"\/38.2-3213\/","token":"38.2\/32\/38.2-3213","metadata":false},{"id":60385,"structure_id":14541,"section_number":"38.2-3214","catch_line":"Same; operative date","url":"\/38.2-3214\/","token":"38.2\/32\/38.2-3214","metadata":false},{"id":59064,"structure_id":14541,"section_number":"38.2-3215","catch_line":"Same; operative date for \u00a7 38.2-3207","url":"\/38.2-3215\/","token":"38.2\/32\/38.2-3215","metadata":false},{"id":68021,"structure_id":14541,"section_number":"38.2-3216","catch_line":"Same; operative date for \u00a7 38.2-3208","url":"\/38.2-3216\/","token":"38.2\/32\/38.2-3216","metadata":false},{"id":84594,"structure_id":14541,"section_number":"38.2-3217","catch_line":"Loan provisions in policies issued prior to operative date stated in \u00a7 38.2-3214","url":"\/38.2-3217\/","token":"38.2\/32\/38.2-3217","metadata":false},{"id":55994,"structure_id":14541,"section_number":"38.2-3218","catch_line":"Same; in policies subsequently issued","url":"\/38.2-3218\/","token":"38.2\/32\/38.2-3218","metadata":false},{"id":85068,"structure_id":14541,"section_number":"38.2-3219","catch_line":"Applicability","url":"\/38.2-3219\/","token":"38.2\/32\/38.2-3219","metadata":false},{"id":73664,"structure_id":14541,"section_number":"38.2-3220","catch_line":"Nonforfeiture requirements","url":"\/38.2-3220\/","token":"38.2\/32\/38.2-3220","metadata":false},{"id":64780,"structure_id":14541,"section_number":"38.2-3221","catch_line":"Minimum values","url":"\/38.2-3221\/","token":"38.2\/32\/38.2-3221","metadata":false},{"id":74981,"structure_id":14541,"section_number":"38.2-3222","catch_line":"Computation of present value","url":"\/38.2-3222\/","token":"38.2\/32\/38.2-3222","metadata":false},{"id":85744,"structure_id":14541,"section_number":"38.2-3223","catch_line":"Calculation of cash surrender values","url":"\/38.2-3223\/","token":"38.2\/32\/38.2-3223","metadata":false},{"id":84416,"structure_id":14541,"section_number":"38.2-3224","catch_line":"Calculation of paid-up annuity benefits","url":"\/38.2-3224\/","token":"38.2\/32\/38.2-3224","metadata":false},{"id":75346,"structure_id":14541,"section_number":"38.2-3225","catch_line":"Maturity date","url":"\/38.2-3225\/","token":"38.2\/32\/38.2-3225","metadata":false},{"id":78619,"structure_id":14541,"section_number":"38.2-3226","catch_line":"Disclosure of limited death benefits","url":"\/38.2-3226\/","token":"38.2\/32\/38.2-3226","metadata":false},{"id":80588,"structure_id":14541,"section_number":"38.2-3227","catch_line":"Inclusion of lapse of time considerations","url":"\/38.2-3227\/","token":"38.2\/32\/38.2-3227","metadata":false},{"id":64270,"structure_id":14541,"section_number":"38.2-3228","catch_line":"Proration of values; additional benefits","url":"\/38.2-3228\/","token":"38.2\/32\/38.2-3228","metadata":false},{"id":66707,"structure_id":14541,"section_number":"38.2-3229","catch_line":"Effective date","url":"\/38.2-3229\/","token":"38.2\/32\/38.2-3229","metadata":false}],"previous_section":{"id":59064,"structure_id":14541,"section_number":"38.2-3215","catch_line":"Same; operative date for \u00a7 38.2-3207","url":"\/38.2-3215\/","token":"38.2\/32\/38.2-3215","metadata":false},"next_section":{"id":84594,"structure_id":14541,"section_number":"38.2-3217","catch_line":"Loan provisions in policies issued prior to operative date stated in \u00a7 38.2-3214","url":"\/38.2-3217\/","token":"38.2\/32\/38.2-3217","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3216\/","history_text":"<p>This law was first created in 1962. The record of its establishment is cataloged in chapter 562 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 1962 \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":66783,"section_number":"38.2-1369","catch_line":"Computation of minimum standard","order_by":null,"url":"\/38.2-1369\/"},{"id":85809,"section_number":"38.2-3208","catch_line":"Same; industrial policies","order_by":null,"url":"\/38.2-3208\/"},{"id":60003,"section_number":"38.2-3211","catch_line":"Same; other factors in calculations","order_by":null,"url":"\/38.2-3211\/"},{"id":85497,"section_number":"38.2-3213","catch_line":"Same; exemptions from application of certain sections","order_by":null,"url":"\/38.2-3213\/"}],"refers_to":[{"id":85809,"section_number":"38.2-3208","catch_line":"Same; industrial policies","order_by":null,"url":"\/38.2-3208\/"}],"permalink":{"id":214571,"object_type":"law","relational_id":68021,"identifier":"38.2-3216","token":"38.2\/32\/38.2-3216","url":"\/38.2-3216\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-3216\/","token":"38.2\/32\/38.2-3216","dublin_core":{"Title":"Same; operative date for \u00a7 38.2-3208","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3216","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>After July 1, 1962, any <span class=\"dictionary\">insurer<\/span> may file with the <span class=\"dictionary\">Commission<\/span> a written notice of its election to comply with the provisions of \u00a7&nbsp;<a class=\"law\" title=\"Same; industrial policies\" href=\"\/38.2-3208\/\">38.2-3208<\/a> after a specified date before January 1, 1968. After the filing of the notice, then upon the specified date, which shall be the operative date of this section for the <span class=\"dictionary\">insurer<\/span>, \u00a7&nbsp;<a class=\"law\" title=\"Same; industrial policies\" href=\"\/38.2-3208\/\">38.2-3208<\/a> shall become operative with respect to the industrial policies thereafter issued by that <span class=\"dictionary\">insurer<\/span>. If an <span class=\"dictionary\">insurer<\/span> makes no election, the operative date of \u00a7&nbsp;<a class=\"law\" title=\"Same; industrial policies\" href=\"\/38.2-3208\/\">38.2-3208<\/a> for the <span class=\"dictionary\">insurer<\/span> shall be January 1, 1968.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nSAME; OPERATIVE DATE FOR \u00a7 38.2-3208 (\u00a7 38.2-3216)\n\nAfter July 1, 1962, any insurer may file with the Commission a written notice of\nits election to comply with the provisions of \u00a7 38.2-3208 after a specified\ndate before January 1, 1968. After the filing of the notice, then upon the\nspecified date, which shall be the operative date of this section for the\ninsurer, \u00a7 38.2-3208 shall become operative with respect to the industrial\npolicies thereafter issued by that insurer. If an insurer makes no election, the\noperative date of \u00a7 38.2-3208 for the insurer shall be January 1, 1968.\n\nHISTORY: 1962, c. 562, \u00a7 38.1-468.2; 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}}