{"law_id":"786829","section_number":"38.2-3816","catch_line":"Policies companies may issue; reserves required; provisions concerning increase of rates and extra assessments","history":"Code 1950, \u00a7 38-488; 1952, c. 317, \u00a7 38.1-516; 1986, c. 562.","order_by":null,"metadata":false,"court_decisions":{},"official_url":"http:\/\/law.lis.virginia.gov\/vacode\/38.2-3816\/","refers_to":false,"url":"\/38.2-3816\/","token":"38.2\/38\/2\/38.2-3816","structure":{"1":{"id":"2477","name":"Reserves, Policies And Benefits","identifier":"2","label":"article","url":"\/38.2\/38\/2\/"},"2":{"id":"380","name":"Cooperative Nonprofit Life Benefit Companies","identifier":"38","label":"chapter","url":"\/38.2\/38\/"},"3":{"id":"7","name":"Insurance","identifier":"38.2","label":"title","url":"\/38.2\/"}},"referred_to_by":false,"edition_id":"11","section_id":"786829","structure_id":"2477","full_text":"Any company may issue contracts of life, accident and sickness insurance or combinations of them. The reserves for such policies or contracts shall be based upon the American Experience Table of Mortality, with an interest assumption of no more than four percent, or some higher standard, or upon any minimum standard allowed by law in this Commonwealth for legal reserve life insurers.  It may provide in its laws or bylaws and membership contracts that the rates shall not be increased or extra assessments made.","text":{"0":{"id":"2538407","text":"Any company may issue contracts of life, accident and sickness insurance or combinations of them. The reserves for such policies or contracts shall be based upon the American Experience Table of Mortality, with an interest assumption of no more than four percent, or some higher standard, or upon any minimum standard allowed by law in this Commonwealth for legal reserve life insurers.  It may provide in its laws or bylaws and membership contracts that the rates shall not be increased or extra assessments made.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":{"1":{"id":"2477","name":"Reserves, Policies And Benefits","identifier":"2","label":"article","url":"\/38.2\/38\/2\/"},"2":{"id":"380","name":"Cooperative Nonprofit Life Benefit Companies","identifier":"38","label":"chapter","url":"\/38.2\/38\/"},"3":{"id":"7","name":"Insurance","identifier":"38.2","label":"title","url":"\/38.2\/"}},"structure_contents":{"0":{"id":"789811","structure_id":"2477","section_number":"38.2-3814","catch_line":"Contracts in writing; fees","url":"\/38.2-3814\/","token":"38.2\/38\/2\/38.2-3814"},"1":{"id":"789640","structure_id":"2477","section_number":"38.2-3815","catch_line":"What benefits policies may provide","url":"\/38.2-3815\/","token":"38.2\/38\/2\/38.2-3815"},"2":{"id":"786829","structure_id":"2477","section_number":"38.2-3816","catch_line":"Policies companies may issue; reserves required; provisions concerning increase of rates and extra assessments","url":"\/38.2-3816\/","token":"38.2\/38\/2\/38.2-3816"},"3":{"id":"790669","structure_id":"2477","section_number":"38.2-3817","catch_line":"Paid-up insurance or extended term insurance","url":"\/38.2-3817\/","token":"38.2\/38\/2\/38.2-3817"},"4":{"id":"769188","structure_id":"2477","section_number":"38.2-3818","catch_line":"Officers and members not individually liable for payment","url":"\/38.2-3818\/","token":"38.2\/38\/2\/38.2-3818"}},"previous_section":{"id":"789640","structure_id":"2477","section_number":"38.2-3815","catch_line":"What benefits policies may provide","url":"\/38.2-3815\/","token":"38.2\/38\/2\/38.2-3815"},"next_section":{"id":"790669","structure_id":"2477","section_number":"38.2-3817","catch_line":"Paid-up insurance or extended term insurance","url":"\/38.2-3817\/","token":"38.2\/38\/2\/38.2-3817"},"references":false,"formats":{"txt":"\/38.2-3816.txt","json":"\/38.2-3816.json","xml":"\/38.2-3816.xml"},"dublin_core":{"Title":"Policies companies may issue; reserves required; provisions concerning increase of rates and extra assessments","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3816","Relation":"Code of Virginia"},"plain_text":"                                 CODE OF VIRGINIA\n\nPOLICIES COMPANIES MAY ISSUE; RESERVES REQUIRED; PROVISIONS CONCERNING INCREASE\nOF RATES AND EXTRA ASSESSMENTS (\u00a7 38.2-3816)\n\nAny company may issue contracts of life, accident and sickness insurance or\ncombinations of them. The reserves for such policies or contracts shall be based\nupon the American Experience Table of Mortality, with an interest assumption of\nno more than four percent, or some higher standard, or upon any minimum standard\nallowed by law in this Commonwealth for legal reserve life insurers.  It may\nprovide in its laws or bylaws and membership contracts that the rates shall not\nbe increased or extra assessments made.\n\nHISTORY: Code 1950, \u00a7 38-488; 1952, c. 317, \u00a7 38.1-516; 1986, c. 562."}