78752738.2-1447Virginia Decodedhttps://vacode.org2016InsuranceInvestmentsAsset Protection ActException1992, c. 588.http://law.lis.virginia.gov/vacode/38.2-1447//38.2-1447/38.2/14/4/38.2-144738.2-421438.2-4509This article shall not apply to those assets of any insurer that are held, deposited, pledged, hypothecated or otherwise encumbered as provided herein to secure, offset, protect, or meet those reserve liabilities of such insurer which are established, incurred, or required under the provisions of a reinsurance agreement whereby such insurer has reinsured the insurance policy liabilities of a ceding insurer, provided:sectionAA1 The ceding insurer and the reinsurer are both licensed to transact business in this Commonwealth; andsectionA1A12The Commission shall have the right to examine any such assets, reinsurance agreements, or deposit arrangements at any time in accordance with its authority to make examinations of insurers as conferred by other provisions of this title.sectionBB1