§ 38.2-3309 Nonforfeiture benefits and cash surrender values
A. Each individual life insurance policy shall contain a provision for nonforfeiture benefits. The provision shall specify the options to which the policyowner is entitled, in accordance with the requirements of § 38.2-3202.
B. Each individual life insurance policy shall have a provision for cash surrender values in accordance with the requirements of § 38.2-3203.
History
The record of this law’s original creation isn’t available online. The oldest record of it is its appearance in the Code of Virginia of 1950, as §§ 38-371(7) and (8). It has been modified 3 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1950, at page 180; in 1952, chapter 317; in 1986, chapter 562.
Code 1950, § 38-371(7), (8); 1950, p. 180; 1952, c. 317, § 38.1-398; 1986, c. 562.