                                 CODE OF VIRGINIA

VALUATION OF INVESTMENTS AND OTHER ASSETS (§ 38.2-1306.2)

The value of investments and other assets, other than those not admitted
pursuant to § 38.2-1306.3, and their reporting as admitted or nonadmitted
assets shall be determined in accordance with valuations or valuation guidance
set forth in the National Association of Insurance Commissioners (NAIC)
accounting practices and procedures manuals. The Commission may grant exception
to or modification of NAIC accounting practices and procedures otherwise
prescribed by this section upon petition from an insurer organized and operating
under the laws of this Commonwealth and licensed pursuant to the provisions of
Chapter 25 (§ 38.2-2500 et seq.) of this title.

HISTORY: 1992, c. 588; 1993, c. 158; 2000, c. 46.