{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-411.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-411.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-411.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-411.html"}],"law_id":86576,"edition_id":1,"section_id":86576,"structure_id":13385,"section_number":"6.2-411","catch_line":"Requirements relating to insurance","history":"1987, c. 622, \u00a7 6.1-330.72; 1993, c. 774; 1995, c. 75; 1996, c. 243; 1998, cc. 69, 89; 2010, c. 794.","full_text":"A\n\nAny lender making a loan secured by a subordinate mortgage or deed of trust, as defined in \u00a7 6.2-300, may require the borrower to provide:1\n\nEvidence of flood insurance if the security property is located in a special flood hazard area;2\n\nEvidence of fire and extended coverage insurance; and3\n\nDecreasing term life insurance, in an amount not exceeding the amount of the loan and for a period not exceeding the term of the loan.B\n\nAt the option of the borrower, accident and health insurance and involuntary unemployment insurance may be provided by the lender.C\n\nProof of all insurance issued in connection with loans subject to this chapter shall be furnished to the borrower within 10 days from the date the loan is closed.","order_by":null,"text":{"0":{"id":310094,"text":"Any lender making a loan secured by a subordinate mortgage or deed of trust, as defined in \u00a7 6.2-300, may require the borrower to provide:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":310095,"text":"Evidence of flood insurance if the security property is located in a special flood hazard area;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":310096,"text":"Evidence of fire and extended coverage insurance; and","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":310097,"text":"Decreasing term life insurance, in an amount not exceeding the amount of the loan and for a period not exceeding the term of the loan.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"B"},"4":{"id":310098,"text":"At the option of the borrower, accident and health insurance and involuntary unemployment insurance may be provided by the lender.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A3","next_prefix":"C"},"5":{"id":310099,"text":"Proof of all insurance issued in connection with loans subject to this chapter shall be furnished to the borrower within 10 days from the date the loan is closed.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13385,"edition_id":1,"name":"Loans Secured by Lien on Real Estate","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":12854,"metadata":{},"date_created":"2026-06-26 03:44:46","date_modified":"2026-06-26 03:44:46","permalink":{"id":263491,"object_type":"structure","relational_id":13385,"identifier":"2","token":"6.2\/I\/4\/2","url":"\/6.2\/I\/4\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12854,"edition_id":1,"name":"Certain Lending Practices","identifier":"4","label":"chapter","depth":3,"order_by":1,"parent_id":12853,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263463,"object_type":"structure","relational_id":12854,"identifier":"4","token":"6.2\/I\/4","url":"\/6.2\/I\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12853,"edition_id":1,"name":"General Provisions","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263251,"object_type":"structure","relational_id":12853,"identifier":"I","token":"6.2\/I","url":"\/6.2\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":68627,"structure_id":13385,"section_number":"6.2-406","catch_line":"Disclosure of terms of mortgage application","url":"\/6.2-406\/","token":"6.2\/I\/4\/2\/6.2-406","metadata":false},{"id":76659,"structure_id":13385,"section_number":"6.2-407","catch_line":"Lenders to furnish borrower with copy of appraisal","url":"\/6.2-407\/","token":"6.2\/I\/4\/2\/6.2-407","metadata":false},{"id":73416,"structure_id":13385,"section_number":"6.2-408","catch_line":"Priority of interest on debts secured by mortgage or deed of trust","url":"\/6.2-408\/","token":"6.2\/I\/4\/2\/6.2-408","metadata":false},{"id":55630,"structure_id":13385,"section_number":"6.2-409","catch_line":"Addition of unpaid interest to principal balance","url":"\/6.2-409\/","token":"6.2\/I\/4\/2\/6.2-409","metadata":false},{"id":86582,"structure_id":13385,"section_number":"6.2-410","catch_line":"Borrowers not to be required to employ particular professionals","url":"\/6.2-410\/","token":"6.2\/I\/4\/2\/6.2-410","metadata":false},{"id":86576,"structure_id":13385,"section_number":"6.2-411","catch_line":"Requirements relating to insurance","url":"\/6.2-411\/","token":"6.2\/I\/4\/2\/6.2-411","metadata":false},{"id":75246,"structure_id":13385,"section_number":"6.2-412","catch_line":"Insurance coverage under certain loans not to exceed replacement value of improvements","url":"\/6.2-412\/","token":"6.2\/I\/4\/2\/6.2-412","metadata":false},{"id":79804,"structure_id":13385,"section_number":"6.2-413","catch_line":"Obligation of lender to reimburse unused mortgage guaranty insurance premiums","url":"\/6.2-413\/","token":"6.2\/I\/4\/2\/6.2-413","metadata":false},{"id":70580,"structure_id":13385,"section_number":"6.2-414","catch_line":"Obligation of person maintaining escrow account to pay taxes and insurance; penalties","url":"\/6.2-414\/","token":"6.2\/I\/4\/2\/6.2-414","metadata":false},{"id":84302,"structure_id":13385,"section_number":"6.2-415","catch_line":"Lender not to cancel insurance policy at time of refinancing under certain circumstances","url":"\/6.2-415\/","token":"6.2\/I\/4\/2\/6.2-415","metadata":false},{"id":59737,"structure_id":13385,"section_number":"6.2-416","catch_line":"Certain mortgages not to prohibit further encumbrance of real property","url":"\/6.2-416\/","token":"6.2\/I\/4\/2\/6.2-416","metadata":false},{"id":72706,"structure_id":13385,"section_number":"6.2-417","catch_line":"Mortgage or deed of trust to contain notice that debt is subject to call or modification on conveyance of property","url":"\/6.2-417\/","token":"6.2\/I\/4\/2\/6.2-417","metadata":false},{"id":81416,"structure_id":13385,"section_number":"6.2-418","catch_line":"Property owner entitled to written statement of payoff amount","url":"\/6.2-418\/","token":"6.2\/I\/4\/2\/6.2-418","metadata":false},{"id":76947,"structure_id":13385,"section_number":"6.2-419","catch_line":"Disclosure of terms of assumption","url":"\/6.2-419\/","token":"6.2\/I\/4\/2\/6.2-419","metadata":false},{"id":82644,"structure_id":13385,"section_number":"6.2-420","catch_line":"Prepayment penalty not to be collected in certain circumstances","url":"\/6.2-420\/","token":"6.2\/I\/4\/2\/6.2-420","metadata":false},{"id":76124,"structure_id":13385,"section_number":"6.2-421","catch_line":"Certain contracts to permit prepayment; amount of prepayment penalty","url":"\/6.2-421\/","token":"6.2\/I\/4\/2\/6.2-421","metadata":false},{"id":54357,"structure_id":13385,"section_number":"6.2-422","catch_line":"Prepayment penalty for loan secured by home occupied by borrower","url":"\/6.2-422\/","token":"6.2\/I\/4\/2\/6.2-422","metadata":false},{"id":61310,"structure_id":13385,"section_number":"6.2-423","catch_line":"Prepayment of loans secured by certain subordinate mortgages or deeds of trust; rebates for unearned interest","url":"\/6.2-423\/","token":"6.2\/I\/4\/2\/6.2-423","metadata":false}],"previous_section":{"id":86582,"structure_id":13385,"section_number":"6.2-410","catch_line":"Borrowers not to be required to employ particular professionals","url":"\/6.2-410\/","token":"6.2\/I\/4\/2\/6.2-410","metadata":false},"next_section":{"id":75246,"structure_id":13385,"section_number":"6.2-412","catch_line":"Insurance coverage under certain loans not to exceed replacement value of improvements","url":"\/6.2-412\/","token":"6.2\/I\/4\/2\/6.2-412","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-411\/","history_text":"

This law was first created in 1987. The record of its establishment is cataloged in chapter 622 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 1987 \u201cActs\u201d aren\u2019t available online. It has been modified 5 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 1993, chapter 774; in 1995, chapter 75<\/a>; in 1996, chapter 243<\/a>; in 1998, chapters 69<\/a> and 89<\/a>; in 2010, chapter 794<\/a>.<\/p>","references":[{"id":55296,"section_number":"6.2-328","catch_line":"Charges allowed on loan secured by subordinate mortgage","order_by":null,"url":"\/6.2-328\/"}],"refers_to":[{"id":61230,"section_number":"6.2-300","catch_line":"Definitions","order_by":null,"url":"\/6.2-300\/"}],"permalink":{"id":263513,"object_type":"law","relational_id":86576,"identifier":"6.2-411","token":"6.2\/I\/4\/2\/6.2-411","url":"\/6.2-411\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-411\/","token":"6.2\/I\/4\/2\/6.2-411","dublin_core":{"Title":"Requirements relating to insurance","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-411","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Any lender making a loan secured by a subordinate mortgage or deed of trust, as defined in \u00a7 6.2-300<\/a>, may require the borrower to provide: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Evidence<\/span> of flood insurance if the security property is located in a special flood hazard area; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Evidence<\/span> of fire and extended coverage insurance; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Decreasing term life insurance, in an amount not exceeding the amount of the loan and for a period not exceeding the term of the loan. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> At the option of the borrower, accident and health insurance and involuntary unemployment insurance may be provided by the lender. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Proof of all insurance issued in connection with loans subject to this chapter shall be furnished to the borrower within 10 days from the date the loan is closed. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREQUIREMENTS RELATING TO INSURANCE (\u00a7 6.2-411)\n\nA. Any lender making a loan secured by a subordinate mortgage or deed of trust,\nas defined in \u00a7 6.2-300, may require the borrower to provide:\n\n 1. Evidence of flood insurance if the security property is located in a\n special flood hazard area;\n\n 2. Evidence of fire and extended coverage insurance; and\n\n 3. Decreasing term life insurance, in an amount not exceeding the amount of\n the loan and for a period not exceeding the term of the loan.\n\nB. At the option of the borrower, accident and health insurance and involuntary\nunemployment insurance may be provided by the lender.\n\nC. Proof of all insurance issued in connection with loans subject to this\nchapter shall be furnished to the borrower within 10 days from the date the loan\nis closed.\n\nHISTORY: 1987, c. 622, \u00a7 6.1-330.72; 1993, c. 774; 1995, c. 75; 1996, c. 243;\n1998, cc. 69, 89; 2010, c. 794.","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}}