Code of Virginia

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Code of Virginia
Title 38.2. Insurance
Chapter 32. Standard Nonforfeiture Provisions for Life Insurance

§ 38.2-3218. Same; in policies subsequently issued.

For policies issued on or after the operative date stated in § 38.2-3214, the loan value referred to in former § 38.1-397 or § 38.2-3308, whichever applies, shall be the cash surrender value at the end of the current policy year required by § 38.2-3202. The insurer shall have the right to defer for up to six months after application for the loan is made a loan on the policy, except when made to pay premiums to the insurer.

Code 1950, § 38-385; 1952, c. 317, § 38.1-470; 1986, c. 562.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.