{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-3218.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-3218.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-3218.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-3218.html"}],"law_id":55994,"edition_id":1,"section_id":55994,"structure_id":14541,"section_number":"38.2-3218","catch_line":"Same; in policies subsequently issued","history":"Code 1950, \u00a7 38-385; 1952, c. 317, \u00a7 38.1-470; 1986, c. 562.","full_text":"For policies issued on or after the operative date stated in \u00a7 38.2-3214, the loan value referred to in former \u00a7 38.1-397 or \u00a7 38.2-3308, whichever applies, shall be the cash surrender value at the end of the current policy year required by \u00a7 38.2-3202. The insurer shall have the right to defer for up to six months after application for the loan is made a loan on the policy, except when made to pay premiums to the insurer.","order_by":null,"text":{"0":{"id":205182,"text":"For policies issued on or after the operative date stated in \u00a7 38.2-3214, the loan value referred to in former \u00a7 38.1-397 or \u00a7 38.2-3308, whichever applies, shall be the cash surrender value at the end of the current policy year required by \u00a7 38.2-3202. The insurer shall have the right to defer for up to six months after application for the loan is made a loan on the policy, except when made to pay premiums to the insurer.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3218\/","history_text":"<p>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":[{"id":59870,"section_number":"38.2-3308","catch_line":"Policy loans","order_by":null,"url":"\/38.2-3308\/"}],"refers_to":[{"id":57831,"section_number":"38.2-3202","catch_line":"Standard nonforfeiture law; required policy provisions","order_by":null,"url":"\/38.2-3202\/"},{"id":60385,"section_number":"38.2-3214","catch_line":"Same; operative date","order_by":null,"url":"\/38.2-3214\/"},{"id":59870,"section_number":"38.2-3308","catch_line":"Policy loans","order_by":null,"url":"\/38.2-3308\/"}],"permalink":{"id":214579,"object_type":"law","relational_id":55994,"identifier":"38.2-3218","token":"38.2\/32\/38.2-3218","url":"\/38.2-3218\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-3218\/","token":"38.2\/32\/38.2-3218","dublin_core":{"Title":"Same; in policies subsequently issued","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3218","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>For policies issued on or after the operative date stated in \u00a7&nbsp;<a class=\"law\" title=\"Same; operative date\" href=\"\/38.2-3214\/\">38.2-3214<\/a>, the loan value referred to in former \u00a7&nbsp;38.1-397 or \u00a7&nbsp;<a class=\"law\" title=\"Policy loans\" href=\"\/38.2-3308\/\">38.2-3308<\/a>, whichever applies, shall be the cash surrender value at the end of the current policy year required by \u00a7&nbsp;<a class=\"law\" title=\"Standard nonforfeiture law; required policy provisions\" href=\"\/38.2-3202\/\">38.2-3202<\/a>. The <span class=\"dictionary\">insurer<\/span> shall have the right to defer for up to six months after application for the loan is made a loan on the policy, except when made to pay premiums to the <span class=\"dictionary\">insurer<\/span>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nSAME; IN POLICIES SUBSEQUENTLY ISSUED (\u00a7 38.2-3218)\n\nFor policies issued on or after the operative date stated in \u00a7 38.2-3214, the\nloan value referred to in former \u00a7 38.1-397 or \u00a7 38.2-3308, whichever applies,\nshall be the cash surrender value at the end of the current policy year required\nby \u00a7 38.2-3202. The insurer shall have the right to defer for up to six months\nafter application for the loan is made a loan on the policy, except when made to\npay premiums to the insurer.\n\nHISTORY: Code 1950, \u00a7 38-385; 1952, c. 317, \u00a7 38.1-470; 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}}