CODE OF VIRGINIA

INCLUSION OF LAPSE OF TIME CONSIDERATIONS (§ 38.2-3227)

Any paid-up annuity, cash surrender or death benefits available at any time,
other than on the contract anniversary under any contract with fixed scheduled
considerations, shall be calculated with allowance for a lapse of time and the
payment of any scheduled considerations beyond the beginning of the contract
year in which cessation of payment of considerations under the contract occurs.

HISTORY: 1979, c. 437, § 38.1-470.1; 1986, c. 562.