<?xml version="1.0"?>
<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>86363</law_id><section_number>38.2-3111</section_number><catch_line>Assignment of life insurance policies</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="38.2">Insurance</unit><unit label="chapter" level="2" order_by="1" identifier="31">Life Insurance</unit><unit label="article" level="3" order_by="1" identifier="1">General Provisions</unit></structure><text>
						<section><p>No life <span class="dictionary">insurance</span> policy shall be taken out by the insured or by a <span class="dictionary">person</span> having an insurable interest in the insured&#x2019;s life for the mere purpose of assignment. A policy may be assigned whether or not the assignee has an insurable interest in the life insured unless the policy provides otherwise.</p></section></text><history>Code 1950, &#xA7; 38-367; 1952, c. 317, &#xA7; 38.1-442; 1962, c. 590; 1986, c. 562.</history><metadata></metadata></law>
