Virginia § 38.2-1377 - Reserve calculation; indeterminate premium plans
Full text of Virginia Code of Virginia § 38.2-1377 — Reserve calculation; indeterminate premium plans, with citation guidance and answers to common questions.
§ 38.2-1377. Reserve calculation; indeterminate premium plans
In the case of a plan of life insurance that provides for future premium determination, the amounts of which are to be determined by the insurance company based on then estimates of future experience, or in the case of a plan of life insurance or annuity that is of such a nature that the minimum reserves cannot be determined by the methods described in §§ 38.2-1372, 38.2-1373, and 38.2-1376, the reserves that are held under the plan shall:
1. Be appropriate in relation to the benefits and the pattern of premiums for that plan; and
2. Be computed by a method that is consistent with the principles of this article, as determined by regulations adopted by the Commission.
2014, c. 571.
Frequently Asked Questions About Virginia § 38.2-1377
What does Code of Virginia § 38.2-1377 cover?
Section 38.2-1377 ("Reserve calculation; indeterminate premium plans") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 38.2-1377?
A common citation format is "Code of Virginia § 38.2-1377" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 38.2-1377 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.