In the case of policies under the terms of which the right to change the beneficiary is reserved and as to which the cash surrender or loan value of the policy is claimed by the creditors, the insurance shall not be entitled to the protection afforded by § 38.2-3122.

History

Code 1950, § 38-120; 1952, c. 317, § 38.1-449; 1986, c. 562; 1990, c. 942.