Administrative Code

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Virginia Administrative Code
Title 14. Insurance
Agency 5. State Corporation Commission, Bureau of Insurance
Chapter 318. Rules Governing Term and Universal Life Insurance Reserve Financing

14VAC5-318-70. Prohibition against avoidance.

No insurer that has covered policies to which this chapter applies, as set forth in 14VAC5-318-20, shall take any action or series of actions or enter into any transaction, arrangement, or series of transactions or arrangements if the purpose of such action, transaction, arrangement, or series thereof is to avoid the requirements of this chapter or to circumvent its purpose and intent, as set forth in 14VAC5-318-10.

Statutory Authority

§§ 12.1-13, 38.2-223, and 38.2-1316.7 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 34, Issue 9, eff. January 1, 2018.

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