                                 CODE OF VIRGINIA

STANDARDS FOR CERTAIN POLICIES; PROHIBITED POLICIES (§ 38.2-3117)

A. Pursuant to the authority granted under &#xA7; 38.2-223, the Commission may
issue rules and regulations that may include but shall not be limited to policy
provisions, definitions, standards for full and fair disclosure and standards
for minimum benefits, for variable life insurance policies, universal life
insurance policies or other nontraditional types of life insurance policies,
annuities and variable annuities.

B. The Commission may prescribe the method of identification of policies and
contracts based upon coverage provided.

C. The Commission may issue rules and regulations that specify prohibited
policies or policy provisions not otherwise specifically authorized by statute
which in the opinion of the Commission are unjust, unfair or unfairly
discriminatory to the policyholder, beneficiary, owner, or any other person
insured under the policy.

HISTORY: 1986, c. 562.