                                 CODE OF VIRGINIA

COMMON STOCK OF BANKS OR TRUST COMPANIES (§ 38.2-1425)

A. A domestic insurer may invest in the common capital stock of any bank or
trust company that is a member of the Federal Deposit Insurance Corporation.

B. No domestic insurer shall invest in more than ten percent of the actually
issued and outstanding common capital stock of any one such bank or trust
company.

C. For the purpose of this section, the term &#8220;bank&#8221; includes a
registered bank holding company as defined by the Federal Bank Holding Act of
1956, as amended, and a registered bank holding company shall be considered a
member of the Federal Deposit Insurance Corporation if all its subsidiary banks
are members of the Federal Deposit Insurance Corporation.

HISTORY: 1983, c. 457, § 38.1-217.28; 1986, c. 562; 2000, c. 155.