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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>86617</law_id><section_number>38.2-1430</section_number><catch_line>Collateral loans</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>38.2-1413</reference><reference>38.2-1414</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="38.2">Insurance</unit><unit label="chapter" level="2" order_by="1" identifier="14">Investments</unit><unit label="article" level="3" order_by="1" identifier="2">Category 1 Investments</unit></structure><text>
						<section><p>A domestic <span class="dictionary">insurer</span> may make loans secured by securities eligible for investment under this article. At the <span class="dictionary">date of investment</span>, the loan shall not exceed eighty percent of the market value of the <span class="dictionary">collateral</span> pledged. However, if the <span class="dictionary">collateral</span> consists of <span class="dictionary">obligations</span> issued, assumed or guaranteed by the United <span class="dictionary">States</span>, the loan may equal the market value of the <span class="dictionary">collateral</span> pledged.</p></section></text><history>1983, c. 457, &#xA7; 38.1-217.33; 1986, c. 562.</history><metadata></metadata></law>
