                                 CODE OF VIRGINIA

GUARANTEED STOCKS (§ 38.2-1424)

A domestic insurer may invest in stocks guaranteed by a solvent company
incorporated under the laws of the United States or of any state if for the past
three years the guarantor&#8217;s net earnings available for meeting fixed
charges is at least 1 1/4 times the sum of (i) the fixed charges of the
guarantor and (ii) the dividends on the guaranteed stock.

HISTORY: 1983, c. 457, § 38.1-217.27; 1986, c. 562.