{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/38.2-502.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/38.2-502.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/38.2-502.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/38.2-502.html"}],"law_id":362779,"edition_id":2,"section_id":362779,"structure_id":51791,"section_number":"38.2-502","catch_line":"Misrepresentations and false advertising of insurance policies","history":"Code 1950, \u00a7 38.1-52; 1952, c. 317, \u00a7 38.1-52.1; 1977, c. 529; 1978, c. 441; 1979, c. 324; 1980, c. 404; 1986, c. 562; 1990, c. 265.","full_text":"No person shall make, issue, circulate, cause or knowingly allow to be made, issued or circulated, any estimate, illustration, circular, statement, sales presentation, omission, or comparison that:\n\n1\n\nMisrepresents the benefits, advantages, conditions or terms of any insurance policy;\n\n2\n\nMisrepresents the dividends or share of the surplus to be received on any insurance policy;\n\n3\n\nMakes any false or misleading statements as to the dividends or share of surplus previously paid on any insurance policy;\n\n4\n\nMisrepresents or is misleading as to the financial condition of any person or the legal reserve system upon which any life insurer operates;\n\n5\n\nUses any name or title of any insurance policy or class of insurance policies that misrepresents the true nature of the policy or policies;\n\n6\n\nMisrepresents any material fact for the purpose of inducing or tending to induce the lapse, forfeiture, exchange, conversion, replacement, or surrender of any insurance policy;\n\n7\n\nMisrepresents any material fact for the purpose of effecting a pledge, assignment, or loan on any insurance policy; or\n\n8\n\nMisrepresents any insurance policy as being a share of stock.\n\n","order_by":null,"text":{"0":{"id":1351137,"text":"No person shall make, issue, circulate, cause or knowingly allow to be made, issued or circulated, any estimate, illustration, circular, statement, sales presentation, omission, or comparison that:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":1351138,"text":"Misrepresents the benefits, advantages, conditions or terms of any insurance policy;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":1351139,"text":"Misrepresents the dividends or share of the surplus to be received on any insurance policy;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":1351140,"text":"Makes any false or misleading statements as to the dividends or share of surplus previously paid on any insurance policy;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":1351141,"text":"Misrepresents or is misleading as to the financial condition of any person or the legal reserve system upon which any life insurer operates;","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":1351142,"text":"Uses any name or title of any insurance policy or class of insurance policies that misrepresents the true nature of the policy or policies;","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":1351143,"text":"Misrepresents any material fact for the purpose of inducing or tending to induce the lapse, forfeiture, exchange, conversion, replacement, or surrender of any insurance policy;","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":1351144,"text":"Misrepresents any material fact for the purpose of effecting a pledge, assignment, or loan on any insurance policy; or","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":1351145,"text":"Misrepresents any insurance policy as being a share of stock.","type":"section","prefixes":["8"],"prefix":"8","entire_prefix":"8","prefix_anchor":"8","level":1,"prior_prefix":"7"}},"ancestry":[{"id":51791,"edition_id":2,"name":"Unfair Trade Practices","identifier":"5","label":"chapter","depth":2,"order_by":5,"parent_id":51644,"metadata":{"child_laws":28,"child_structures":0},"date_created":"2026-08-02 02:48:50","date_modified":"2026-08-02 12:32:56","permalink":{"id":1444477,"object_type":"structure","relational_id":51791,"identifier":"5","token":"38.2\/5","url":"\/38.2\/5\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51644,"edition_id":2,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":88,"parent_id":null,"metadata":{"child_laws":1890,"child_structures":173},"date_created":"2026-08-02 02:45:30","date_modified":"2026-08-02 12:32:55","permalink":{"id":1437663,"object_type":"structure","relational_id":51644,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":362751,"structure_id":51791,"section_number":"38.2-500","catch_line":"Declaration of purpose","url":"\/38.2-500\/","token":"38.2\/5\/38.2-500","metadata":false},{"id":362767,"structure_id":51791,"section_number":"38.2-501","catch_line":"Definitions","url":"\/38.2-501\/","token":"38.2\/5\/38.2-501","metadata":false},{"id":362779,"structure_id":51791,"section_number":"38.2-502","catch_line":"Misrepresentations and false advertising of insurance policies","url":"\/38.2-502\/","token":"38.2\/5\/38.2-502","metadata":false},{"id":362783,"structure_id":51791,"section_number":"38.2-503","catch_line":"False information and advertising generally","url":"\/38.2-503\/","token":"38.2\/5\/38.2-503","metadata":false},{"id":362784,"structure_id":51791,"section_number":"38.2-504","catch_line":"Defamation","url":"\/38.2-504\/","token":"38.2\/5\/38.2-504","metadata":{"court_decisions":""}},{"id":362785,"structure_id":51791,"section_number":"38.2-505","catch_line":"Boycott, coercion and intimidation","url":"\/38.2-505\/","token":"38.2\/5\/38.2-505","metadata":false},{"id":362786,"structure_id":51791,"section_number":"38.2-506","catch_line":"False statements and entries","url":"\/38.2-506\/","token":"38.2\/5\/38.2-506","metadata":false},{"id":362787,"structure_id":51791,"section_number":"38.2-507","catch_line":"Stock operations and advisory board contracts","url":"\/38.2-507\/","token":"38.2\/5\/38.2-507","metadata":false},{"id":362793,"structure_id":51791,"section_number":"38.2-508","catch_line":"Unfair discrimination","url":"\/38.2-508\/","token":"38.2\/5\/38.2-508","metadata":false},{"id":362788,"structure_id":51791,"section_number":"38.2-508.1","catch_line":"Unfair discrimination; members of the armed forces","url":"\/38.2-508.1\/","token":"38.2\/5\/38.2-508.1","metadata":false},{"id":362789,"structure_id":51791,"section_number":"38.2-508.2","catch_line":"Discrimination prohibited","url":"\/38.2-508.2\/","token":"38.2\/5\/38.2-508.2","metadata":false},{"id":362790,"structure_id":51791,"section_number":"38.2-508.3","catch_line":"Consideration of Medicaid eligibility prohibited","url":"\/38.2-508.3\/","token":"38.2\/5\/38.2-508.3","metadata":false},{"id":362791,"structure_id":51791,"section_number":"38.2-508.4","catch_line":"Genetic information privacy","url":"\/38.2-508.4\/","token":"38.2\/5\/38.2-508.4","metadata":false},{"id":362792,"structure_id":51791,"section_number":"38.2-508.5","catch_line":"Re-underwriting individual under existing group or individual accident and sickness insurance policy prohibited; exceptions","url":"\/38.2-508.5\/","token":"38.2\/5\/38.2-508.5","metadata":false},{"id":362794,"structure_id":51791,"section_number":"38.2-509","catch_line":"Rebates","url":"\/38.2-509\/","token":"38.2\/5\/38.2-509","metadata":false},{"id":362795,"structure_id":51791,"section_number":"38.2-510","catch_line":"Unfair claim settlement practices","url":"\/38.2-510\/","token":"38.2\/5\/38.2-510","metadata":false},{"id":362806,"structure_id":51791,"section_number":"38.2-511","catch_line":"Failure to maintain record of complaints","url":"\/38.2-511\/","token":"38.2\/5\/38.2-511","metadata":false},{"id":362813,"structure_id":51791,"section_number":"38.2-512","catch_line":"Misrepresentation in insurance documents or communications","url":"\/38.2-512\/","token":"38.2\/5\/38.2-512","metadata":false},{"id":362815,"structure_id":51791,"section_number":"38.2-513","catch_line":"Repealed","url":"\/38.2-513\/","token":"38.2\/5\/38.2-513","metadata":false},{"id":362814,"structure_id":51791,"section_number":"38.2-513.1","catch_line":"Insurance sales by depository institutions and other lending institutions","url":"\/38.2-513.1\/","token":"38.2\/5\/38.2-513.1","metadata":false},{"id":362818,"structure_id":51791,"section_number":"38.2-514","catch_line":"Failure to make disclosure","url":"\/38.2-514\/","token":"38.2\/5\/38.2-514","metadata":false},{"id":362816,"structure_id":51791,"section_number":"38.2-514.1","catch_line":"Disclosure required","url":"\/38.2-514.1\/","token":"38.2\/5\/38.2-514.1","metadata":false},{"id":362817,"structure_id":51791,"section_number":"38.2-514.2","catch_line":"Disclosures required of motor vehicle rental contract insurance agents and enrollers","url":"\/38.2-514.2\/","token":"38.2\/5\/38.2-514.2","metadata":false},{"id":362820,"structure_id":51791,"section_number":"38.2-515","catch_line":"Power of Commission","url":"\/38.2-515\/","token":"38.2\/5\/38.2-515","metadata":false},{"id":362819,"structure_id":51791,"section_number":"38.2-515.1","catch_line":"Power of Commission; policies issued outside of the Commonwealth","url":"\/38.2-515.1\/","token":"38.2\/5\/38.2-515.1","metadata":false},{"id":362821,"structure_id":51791,"section_number":"38.2-516","catch_line":"Prohibited compensation for intra-company replacement","url":"\/38.2-516\/","token":"38.2\/5\/38.2-516","metadata":false},{"id":362822,"structure_id":51791,"section_number":"38.2-517","catch_line":"Unfair settlement practices; replacement and repair; penalty","url":"\/38.2-517\/","token":"38.2\/5\/38.2-517","metadata":false},{"id":362823,"structure_id":51791,"section_number":"38.2-518","catch_line":"Certificates of insurance","url":"\/38.2-518\/","token":"38.2\/5\/38.2-518","metadata":false}],"previous_section":{"id":362767,"structure_id":51791,"section_number":"38.2-501","catch_line":"Definitions","url":"\/38.2-501\/","token":"38.2\/5\/38.2-501","metadata":false},"next_section":{"id":362783,"structure_id":51791,"section_number":"38.2-503","catch_line":"False information and advertising generally","url":"\/38.2-503\/","token":"38.2\/5\/38.2-503","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-502\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 7 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1952, chapter 317; in 1977, chapter 529; in 1978, chapter 441; in 1979, chapter 324; in 1980, chapter 404; in 1986, chapter 562; in 1990, chapter 265.<\/p>","references":[{"id":362298,"section_number":"38.2-3456","catch_line":"Prohibited activities","order_by":null,"url":"\/38.2-3456\/"},{"id":362799,"section_number":"38.2-5103","catch_line":"Risk retention groups not chartered in this Commonwealth","order_by":null,"url":"\/38.2-5103\/"}],"refers_to":false,"permalink":{"id":1444487,"object_type":"law","relational_id":362779,"identifier":"38.2-502","token":"38.2\/5\/38.2-502","url":"\/38.2-502\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/38.2-502\/","token":"38.2\/5\/38.2-502","dublin_core":{"Title":"Misrepresentations and false advertising of insurance policies","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-502","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

No person<\/span> shall make, issue<\/span>, circulate, cause or knowingly allow to be made, issued or circulated, any estimate, illustration, circular, statement, sales presentation, omission, or comparison that:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Misrepresents the benefits, advantages, conditions or terms of any insurance policy<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Misrepresents the dividends or share of the surplus to be received on any insurance policy<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Makes any false or misleading statements as to the dividends or share of surplus previously paid on any insurance policy<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Misrepresents or is misleading as to the financial condition of any person<\/span> or the legal reserve system upon which any life insurer<\/span> operates; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Uses any name or title of any insurance policy<\/span> or class of insurance policies<\/span> that misrepresents the true nature of the policy or policies; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Misrepresents any material<\/span> fact<\/span> for the purpose of inducing or tending to induce the lapse, forfeiture, exchange, conversion, replacement, or surrender of any insurance policy<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Misrepresents any material<\/span> fact<\/span> for the purpose of effecting a pledge, assignment, or loan on any insurance policy<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Misrepresents any insurance policy<\/span> as being a share of stock. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nMISREPRESENTATIONS AND FALSE ADVERTISING OF INSURANCE POLICIES (\u00a7 38.2-502)\n\nNo person shall make, issue, circulate, cause or knowingly allow to be made,\nissued or circulated, any estimate, illustration, circular, statement, sales\npresentation, omission, or comparison that:\n\n1. Misrepresents the benefits, advantages, conditions or terms of any insurance\npolicy;\n\n2. Misrepresents the dividends or share of the surplus to be received on any\ninsurance policy;\n\n3. Makes any false or misleading statements as to the dividends or share of\nsurplus previously paid on any insurance policy;\n\n4. Misrepresents or is misleading as to the financial condition of any person or\nthe legal reserve system upon which any life insurer operates;\n\n5. Uses any name or title of any insurance policy or class of insurance policies\nthat misrepresents the true nature of the policy or policies;\n\n6. Misrepresents any material fact for the purpose of inducing or tending to\ninduce the lapse, forfeiture, exchange, conversion, replacement, or surrender of\nany insurance policy;\n\n7. Misrepresents any material fact for the purpose of effecting a pledge,\nassignment, or loan on any insurance policy; or\n\n8. Misrepresents any insurance policy as being a share of stock.\n\nHISTORY: Code 1950, \u00a7 38.1-52; 1952, c. 317, \u00a7 38.1-52.1; 1977, c. 529; 1978,\nc. 441; 1979, c. 324; 1980, c. 404; 1986, c. 562; 1990, c. 265.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}