CODE OF VIRGINIA

ANNUITIES (§ 38.2-106)

“Annuities” means all agreements to make periodic payments in
specified or calculable sums pursuant to the terms of a contract for a stated
period of time or for the life of the person or persons specified in the
contract. “Annuities” does not include contracts defined in §
38.2-102 and qualified charitable gift annuities as defined in § 38.2-106.1.As
used in this title, unless the context requires otherwise, “annuity”
shall be deemed to include “variable annuity” and “modified
guaranteed annuity,” and shall be deemed to include a contract under which
a lump sum cash settlement is an alternative to the option of periodic payments.

HISTORY: 1952, c. 317, § 38.1-4; 1966, c. 289; 1970, c. 532; 1985, c. 312;
1986, c. 562; 1992, c. 210; 1993, c. 764; 1996, c. 425; 2001, c. 64.