                                 CODE OF VIRGINIA

NONCONTRIBUTORY COVERAGE (§ 38.2-3736)

If no specific charge is made to the debtor for credit life or credit accident
and sickness insurance, the Commission is granted discretion in applying the
provisions of this chapter. Each company must comply with § 38.2-3725 and the
filing letter must specifically request an exemption from Virginia law. For
purposes of this section, it will be considered that the debtor is charged a
specific amount for insurance if an identifiable charge for insurance is
disclosed in the credit or other instrument furnished the debtor which sets out
the financial elements of the credit transactions, or if there is a differential
in finance, interest, service or other similar charges made to debtors who are
in like circumstances, except for their insured or noninsured status.

HISTORY: 1992, c. 586.