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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>60385</law_id><section_number>38.2-3214</section_number><catch_line>Same; operative date</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>38.2-1368</reference><reference>38.2-1369</reference><reference>38.2-3202</reference><reference>38.2-3203</reference><reference>38.2-3204</reference><reference>38.2-3205</reference><reference>38.2-3211</reference><reference>38.2-3217</reference><reference>38.2-3218</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="32">Standard Nonforfeiture Provisions for Life Insurance</unit></structure><text>
						<section><p>After March 17, 1948, any <span class="dictionary">insurer</span> may file with the <span class="dictionary">Commission</span> a written notice of its election to comply with the provisions of &#xA7;&#xA7;&#xA0;<a class="law" title="Standard nonforfeiture law; required policy provisions" href="/38.2-3202/">38.2-3202</a> through <a class="law" title="Same; exemptions from application of certain sections" href="/38.2-3213/">38.2-3213</a> after a specified date before April 1, 1948. After the filing of the notice upon the specified date, which shall be the operative date for that <span class="dictionary">insurer</span>, the sections shall become operative with respect to the policies thereafter issued by that <span class="dictionary">insurer</span>. If an <span class="dictionary">insurer</span> makes no election, the operative date for the <span class="dictionary">insurer</span> shall be April 1, 1948. The <span class="dictionary">Commission</span>, for good cause shown by any <span class="dictionary">insurer</span>, may extend the operative date for that <span class="dictionary">insurer</span> to not later than January 1, 1949.</p></section></text><history>Code 1950, &#xA7; 38-383; 1952, c. 317, &#xA7; 38.1-468; 1986, c. 562.</history><metadata></metadata></law>
