                                 CODE OF VIRGINIA

CREDIT PROPERTY INSURANCE (§ 38.2-122.2)

&#8220;Credit property insurance&#8221; means insurance against direct physical
damage to personal household property used as security for a loan or other
credit transaction. Such insurance may insure the creditor as sole beneficiary
or may insure both the creditor and the debtor with the creditor as primary
beneficiary and the debtor as beneficiary of proceeds not paid to the creditor.
For purposes of this definition, &#8220;personal household property&#8221; does
not include motor vehicles, mobile homes, or watercraft. The term &#8220;credit
property insurance&#8221; shall not mean any insurance defined in § 38.2-122.

HISTORY: 2000, c. 526.