                                 CODE OF VIRGINIA

SINGLE STATE EXEMPTION (§ 38.2-1383)

A. The Commission may exempt specific product forms or product lines of a
domestic insurer that is licensed and doing business only in the Commonwealth
from the requirements of § 38.2-1379 provided:

   1. The Commission has issued an exemption in writing to the insurer and has
   not subsequently revoked the exemption in writing; and

   2. The insurer computes reserves using assumptions and methods used prior to
   the operative date of the valuation manual in addition to any requirements
   established by the Commission and adopted by regulation.

B. For any insurance company granted an exemption under this section,
&#xA7;&#xA7; 38.2-1367 through 38.2-1378 shall be applicable. With respect to
any insurance company applying this exemption, any reference to &#xA7; 38.2-1379
found in &#xA7;&#xA7; 38.2-1367 through 38.2-1378 shall not be applicable.

HISTORY: 2014, c. 571.