{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/38.2-3816.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/38.2-3816.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/38.2-3816.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/38.2-3816.html"}],"law_id":362451,"edition_id":2,"section_id":362451,"structure_id":51762,"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.","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.\n\n","order_by":null,"text":{"0":{"id":1350088,"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":[{"id":51762,"edition_id":2,"name":"Reserves, Policies and Benefits","identifier":"2","label":"article","depth":3,"order_by":2,"parent_id":51760,"metadata":{"child_laws":5,"child_structures":0},"date_created":"2026-08-02 02:48:19","date_modified":"2026-08-02 12:33:16","permalink":{"id":1443211,"object_type":"structure","relational_id":51762,"identifier":"2","token":"38.2\/38\/2","url":"\/38.2\/38\/2\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51760,"edition_id":2,"name":"Cooperative Nonprofit Life Benefit Companies","identifier":"38","label":"chapter","depth":2,"order_by":40,"parent_id":51644,"metadata":{"child_laws":19,"child_structures":2},"date_created":"2026-08-02 02:48:17","date_modified":"2026-08-02 12:33:16","permalink":{"id":1443151,"object_type":"structure","relational_id":51760,"identifier":"38","token":"38.2\/38","url":"\/38.2\/38\/","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":362449,"structure_id":51762,"section_number":"38.2-3814","catch_line":"Contracts in writing; fees","url":"\/38.2-3814\/","token":"38.2\/38\/2\/38.2-3814","metadata":false},{"id":362450,"structure_id":51762,"section_number":"38.2-3815","catch_line":"What benefits policies may provide","url":"\/38.2-3815\/","token":"38.2\/38\/2\/38.2-3815","metadata":false},{"id":362451,"structure_id":51762,"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","metadata":false},{"id":362452,"structure_id":51762,"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","metadata":false},{"id":362453,"structure_id":51762,"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","metadata":false}],"previous_section":{"id":362450,"structure_id":51762,"section_number":"38.2-3815","catch_line":"What benefits policies may provide","url":"\/38.2-3815\/","token":"38.2\/38\/2\/38.2-3815","metadata":false},"next_section":{"id":362452,"structure_id":51762,"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","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3816\/","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":false,"permalink":{"id":1443221,"object_type":"law","relational_id":362451,"identifier":"38.2-3816","token":"38.2\/38\/2\/38.2-3816","url":"\/38.2-3816\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/38.2-3816\/","token":"38.2\/38\/2\/38.2-3816","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"},"html":"\n\t\t\t\t\t\t<section><p>Any <span class=\"dictionary\">company<\/span> may <span class=\"dictionary\">issue<\/span> <span class=\"dictionary\">contracts<\/span> of life, accident and sickness <span class=\"dictionary\">insurance<\/span> or combinations of them. The reserves for such policies or <span class=\"dictionary\">contracts<\/span> 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 <span class=\"dictionary\">law<\/span> in this Commonwealth for legal reserve life <span class=\"dictionary\">insurers<\/span>. It may provide in its <span class=\"dictionary\">laws<\/span> or bylaws and membership <span class=\"dictionary\">contracts<\/span> that the <span class=\"dictionary\"><span class=\"dictionary\">rates<\/span><\/span> shall not be increased or extra assessments made.<\/p><\/section>","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.","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"}}