                                 CODE OF VIRGINIA

POLICIES COMPANIES MAY ISSUE; RESERVES REQUIRED; PROVISIONS CONCERNING INCREASE
OF RATES AND EXTRA ASSESSMENTS (§ 38.2-3816)

Any company may issue contracts of life, accident and sickness insurance or
combinations of them. The reserves for such policies or contracts shall be based
upon the American Experience Table of Mortality, with an interest assumption of
no more than four percent, or some higher standard, or upon any minimum standard
allowed by law in this Commonwealth for legal reserve life insurers. It may
provide in its laws or bylaws and membership contracts that the rates shall not
be increased or extra assessments made.

HISTORY: Code 1950, § 38-488; 1952, c. 317, § 38.1-516; 1986, c. 562.