{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/38.2-3121.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/38.2-3121.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/38.2-3121.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/38.2-3121.html"}],"law_id":362014,"edition_id":2,"section_id":362014,"structure_id":51732,"section_number":"38.2-3121","catch_line":"Segregation of proceeds not required","history":"Code 1950, \u00a7 38-118; 1952, c. 317, \u00a7 38.1-447; 1986, c. 562.","full_text":"No insurer holding the proceeds of any policy mentioned in \u00a7 38.2-3118 shall be required to segregate the proceeds but may hold them as a part of its general corporate funds.\n\n","order_by":null,"text":{"0":{"id":1347760,"text":"No insurer holding the proceeds of any policy mentioned in \u00a7 38.2-3118 shall be required to segregate the proceeds but may hold them as a part of its general corporate funds.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":51732,"edition_id":2,"name":"Proceeds of Certain Policies","identifier":"2","label":"article","depth":3,"order_by":3,"parent_id":51729,"metadata":{"child_laws":9,"child_structures":0},"date_created":"2026-08-02 02:47:29","date_modified":"2026-08-02 12:33:09","permalink":{"id":1441463,"object_type":"structure","relational_id":51732,"identifier":"2","token":"38.2\/31\/2","url":"\/38.2\/31\/2\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51729,"edition_id":2,"name":"Life Insurance","identifier":"31","label":"chapter","depth":2,"order_by":31,"parent_id":51644,"metadata":{"child_laws":41,"child_structures":4},"date_created":"2026-08-02 02:47:26","date_modified":"2026-08-02 12:33:09","permalink":{"id":1441333,"object_type":"structure","relational_id":51729,"identifier":"31","token":"38.2\/31","url":"\/38.2\/31\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51644,"edition_id":2,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":88,"parent_id":null,"metadata":{"child_laws":1890,"child_structures":173},"date_created":"2026-08-02 02:45:30","date_modified":"2026-08-02 12:32:55","permalink":{"id":1437663,"object_type":"structure","relational_id":51644,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":362010,"structure_id":51732,"section_number":"38.2-3118","catch_line":"Spendthrift trusts created under life insurance policies","url":"\/38.2-3118\/","token":"38.2\/31\/2\/38.2-3118","metadata":false},{"id":362011,"structure_id":51732,"section_number":"38.2-3119","catch_line":"Limitation on \u00a7 38.2-3118","url":"\/38.2-3119\/","token":"38.2\/31\/2\/38.2-3119","metadata":false},{"id":362013,"structure_id":51732,"section_number":"38.2-3120","catch_line":"Repealed","url":"\/38.2-3120\/","token":"38.2\/31\/2\/38.2-3120","metadata":false},{"id":362014,"structure_id":51732,"section_number":"38.2-3121","catch_line":"Segregation of proceeds not required","url":"\/38.2-3121\/","token":"38.2\/31\/2\/38.2-3121","metadata":false},{"id":362016,"structure_id":51732,"section_number":"38.2-3122","catch_line":"Proceeds and avails of life insurance policies and annuity contracts free of certain claims","url":"\/38.2-3122\/","token":"38.2\/31\/2\/38.2-3122","metadata":false},{"id":362015,"structure_id":51732,"section_number":"38.2-3122.1","catch_line":"Annuity contract purchased to fund retirement benefits; protection from creditor's claims","url":"\/38.2-3122.1\/","token":"38.2\/31\/2\/38.2-3122.1","metadata":false},{"id":362017,"structure_id":51732,"section_number":"38.2-3123","catch_line":"Repealed","url":"\/38.2-3123\/","token":"38.2\/31\/2\/38.2-3123","metadata":false},{"id":362018,"structure_id":51732,"section_number":"38.2-3124","catch_line":"Protection of insurers from creditor's claims","url":"\/38.2-3124\/","token":"38.2\/31\/2\/38.2-3124","metadata":false},{"id":362019,"structure_id":51732,"section_number":"38.2-3125","catch_line":"Other rights of beneficiaries and assignees protected","url":"\/38.2-3125\/","token":"38.2\/31\/2\/38.2-3125","metadata":false}],"previous_section":{"id":362013,"structure_id":51732,"section_number":"38.2-3120","catch_line":"Repealed","url":"\/38.2-3120\/","token":"38.2\/31\/2\/38.2-3120","metadata":false},"next_section":{"id":362016,"structure_id":51732,"section_number":"38.2-3122","catch_line":"Proceeds and avails of life insurance policies and annuity contracts free of certain claims","url":"\/38.2-3122\/","token":"38.2\/31\/2\/38.2-3122","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3121\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1952, chapter 317; in 1986, chapter 562.<\/p>","references":false,"refers_to":[{"id":362010,"section_number":"38.2-3118","catch_line":"Spendthrift trusts created under life insurance policies","order_by":null,"url":"\/38.2-3118\/"}],"permalink":{"id":1441477,"object_type":"law","relational_id":362014,"identifier":"38.2-3121","token":"38.2\/31\/2\/38.2-3121","url":"\/38.2-3121\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/38.2-3121\/","token":"38.2\/31\/2\/38.2-3121","dublin_core":{"Title":"Segregation of proceeds not required","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3121","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>No <span class=\"dictionary\">insurer<\/span> holding the proceeds of any policy mentioned in \u00a7&nbsp;<a class=\"law\" title=\"Spendthrift trusts created under life insurance policies\" href=\"\/38.2-3118\/\">38.2-3118<\/a> shall be required to segregate the proceeds but may hold them as a part of its general corporate funds.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nSEGREGATION OF PROCEEDS NOT REQUIRED (\u00a7 38.2-3121)\n\nNo insurer holding the proceeds of any policy mentioned in \u00a7 38.2-3118 shall be\nrequired to segregate the proceeds but may hold them as a part of its general\ncorporate funds.\n\nHISTORY: Code 1950, \u00a7 38-118; 1952, c. 317, \u00a7 38.1-447; 1986, c. 562.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}