{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-6003.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-6003.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-6003.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-6003.html"}],"law_id":76487,"edition_id":1,"section_id":76487,"structure_id":15429,"section_number":"38.2-6003","catch_line":"Approval of viatical settlement contracts and disclosure statements","history":"1997, c. 814, \u00a7 38.2-5704; 2003, c. 717.","full_text":"A\n\nA person shall not use a viatical settlement contract or provide to a viator a disclosure statement form in this Commonwealth unless filed with and approved by the Commission in accordance with procedures set forth in § 38.2-316. In the absence of more specific regulation or rules promulgated by the Commission for the business of viatical settlements, standards and requirements of general application set forth in § 38.2-316 and rules promulgated thereunder shall be deemed applicable to viatical settlement contracts and disclosure statement forms, required by this chapter.B\n\nAt the Commission’s discretion, the Commission may require the submission of advertising material used or intended for use in this Commonwealth.","order_by":null,"text":{"0":{"id":274549,"text":"A person shall not use a viatical settlement contract or provide to a viator a disclosure statement form in this Commonwealth unless filed with and approved by the Commission in accordance with procedures set forth in § 38.2-316. In the absence of more specific regulation or rules promulgated by the Commission for the business of viatical settlements, standards and requirements of general application set forth in § 38.2-316 and rules promulgated thereunder shall be deemed applicable to viatical settlement contracts and disclosure statement forms, required by this chapter.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":274550,"text":"At the Commission’s discretion, the Commission may require the submission of advertising material used or intended for use in this Commonwealth.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":15429,"edition_id":1,"name":"Viatical Settlements Act","identifier":"60","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:54:55","date_modified":"2026-06-26 03:54:55","permalink":{"id":218163,"object_type":"structure","relational_id":15429,"identifier":"60","token":"38.2\/60","url":"\/38.2\/60\/","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":85466,"structure_id":15429,"section_number":"38.2-6000","catch_line":"Definitions","url":"\/38.2-6000\/","token":"38.2\/60\/38.2-6000","metadata":false},{"id":85657,"structure_id":15429,"section_number":"38.2-6001","catch_line":"Viatical settlement brokers","url":"\/38.2-6001\/","token":"38.2\/60\/38.2-6001","metadata":false},{"id":61028,"structure_id":15429,"section_number":"38.2-6002","catch_line":"Viatical settlement providers, license requirements","url":"\/38.2-6002\/","token":"38.2\/60\/38.2-6002","metadata":false},{"id":76487,"structure_id":15429,"section_number":"38.2-6003","catch_line":"Approval of viatical settlement contracts and disclosure statements","url":"\/38.2-6003\/","token":"38.2\/60\/38.2-6003","metadata":false},{"id":66010,"structure_id":15429,"section_number":"38.2-6004","catch_line":"Reporting requirements","url":"\/38.2-6004\/","token":"38.2\/60\/38.2-6004","metadata":false},{"id":72848,"structure_id":15429,"section_number":"38.2-6005","catch_line":"Privacy","url":"\/38.2-6005\/","token":"38.2\/60\/38.2-6005","metadata":false},{"id":84374,"structure_id":15429,"section_number":"38.2-6006","catch_line":"Examinations; record retention; investigations","url":"\/38.2-6006\/","token":"38.2\/60\/38.2-6006","metadata":false},{"id":83681,"structure_id":15429,"section_number":"38.2-6007","catch_line":"Disclosure","url":"\/38.2-6007\/","token":"38.2\/60\/38.2-6007","metadata":false},{"id":63520,"structure_id":15429,"section_number":"38.2-6008","catch_line":"General rules","url":"\/38.2-6008\/","token":"38.2\/60\/38.2-6008","metadata":false},{"id":73158,"structure_id":15429,"section_number":"38.2-6009","catch_line":"Prohibited practices","url":"\/38.2-6009\/","token":"38.2\/60\/38.2-6009","metadata":false},{"id":66115,"structure_id":15429,"section_number":"38.2-6010","catch_line":"Advertising for viatical settlements","url":"\/38.2-6010\/","token":"38.2\/60\/38.2-6010","metadata":false},{"id":84400,"structure_id":15429,"section_number":"38.2-6011","catch_line":"Fraud prevention and control","url":"\/38.2-6011\/","token":"38.2\/60\/38.2-6011","metadata":false},{"id":66961,"structure_id":15429,"section_number":"38.2-6012","catch_line":"Civil remedies","url":"\/38.2-6012\/","token":"38.2\/60\/38.2-6012","metadata":false},{"id":77614,"structure_id":15429,"section_number":"38.2-6013","catch_line":"Unfair trade practices","url":"\/38.2-6013\/","token":"38.2\/60\/38.2-6013","metadata":false},{"id":58773,"structure_id":15429,"section_number":"38.2-6014","catch_line":"Commission authority","url":"\/38.2-6014\/","token":"38.2\/60\/38.2-6014","metadata":false},{"id":70459,"structure_id":15429,"section_number":"38.2-6015","catch_line":"Immunity from liability","url":"\/38.2-6015\/","token":"38.2\/60\/38.2-6015","metadata":false},{"id":60651,"structure_id":15429,"section_number":"38.2-6016","catch_line":"Applicability of securities laws","url":"\/38.2-6016\/","token":"38.2\/60\/38.2-6016","metadata":false}],"previous_section":{"id":61028,"structure_id":15429,"section_number":"38.2-6002","catch_line":"Viatical settlement providers, license requirements","url":"\/38.2-6002\/","token":"38.2\/60\/38.2-6002","metadata":false},"next_section":{"id":66010,"structure_id":15429,"section_number":"38.2-6004","catch_line":"Reporting requirements","url":"\/38.2-6004\/","token":"38.2\/60\/38.2-6004","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-6003\/","history_text":"

This law was first created in 1997. The record of its establishment is cataloged in chapter 814<\/a> 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. 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 2003, chapter 717<\/a>.<\/p>","references":false,"refers_to":[{"id":60466,"section_number":"38.2-316","catch_line":"Policy forms to be filed with Commission; notice of approval or disapproval; exceptions","order_by":null,"url":"\/38.2-316\/"}],"permalink":{"id":218177,"object_type":"law","relational_id":76487,"identifier":"38.2-6003","token":"38.2\/60\/38.2-6003","url":"\/38.2-6003\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-6003\/","token":"38.2\/60\/38.2-6003","dublin_core":{"Title":"Approval of viatical settlement contracts and disclosure statements","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-6003","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A person<\/span> shall not use a viatical settlement contract<\/span> or provide to a viator<\/span> a disclosure statement<\/span> form in this Commonwealth unless filed with and approved by the Commission<\/span> in accordance with procedures set forth in § 38.2-316<\/a>. In the absence of more specific regulation or rules promulgated by the Commission<\/span> for the business of viatical settlements<\/span>, standards and requirements of general application set forth in § 38.2-316<\/a> and rules promulgated thereunder shall be deemed applicable to viatical settlement contracts<\/span><\/span> and disclosure statement<\/span> forms, required by this chapter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> At the Commission<\/span>’s discretion, the Commission<\/span> may require the submission of advertising<\/span> material<\/span> used or intended for use in this Commonwealth. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nAPPROVAL OF VIATICAL SETTLEMENT CONTRACTS AND DISCLOSURE STATEMENTS (\u00a7\n38.2-6003)\n\nA. A person shall not use a viatical settlement contract or provide to a viator\na disclosure statement form in this Commonwealth unless filed with and approved\nby the Commission in accordance with procedures set forth in § 38.2-316. In\nthe absence of more specific regulation or rules promulgated by the Commission\nfor the business of viatical settlements, standards and requirements of general\napplication set forth in § 38.2-316 and rules promulgated thereunder shall\nbe deemed applicable to viatical settlement contracts and disclosure statement\nforms, required by this chapter.\n\nB. At the Commission’s discretion, the Commission may require the\nsubmission of advertising material used or intended for use in this\nCommonwealth.\n\nHISTORY: 1997, c. 814, \u00a7 38.2-5704; 2003, c. 717.","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}}