                                 CODE OF VIRGINIA

INVESTMENT LIMITS GENERALLY (§ 38.2-1411.1)

A. Any securities described in 15 U.S.C. &#xA7; 77r-1 shall be subject to all
the limitations prescribed by this chapter for investments not guaranteed by the
full faith and credit of the United States. However, upon prior written
application by an insurer, the Commission may, until July 1, 1992, at its
discretion, allow such insurer to increase its investments in &#xA7; 77r-1
securities to an amount not to exceed ten percent of the insurer&#8217;s total
admitted assets.

B. On and after July 1, 1992, investments made in any securities described in 15
U.S.C. &#xA7; 77r-1 shall be subject to the percentage limitations and
requirements set forth in this chapter.

HISTORY: 1991, c. 283; 1992, c. 588.