Virginia § 38.2-1440 - Investment in personal property
Full text of Virginia Code of Virginia § 38.2-1440 — Investment in personal property, with citation guidance and answers to common questions.
§ 38.2-1440. Investment in personal property
A. A domestic insurer may invest in interests in tangible personal property for the production of income, evidenced by trust certificates or other instruments.
B. The investments shall be accompanied by (i) a right to receive rental, charter hire, purchase or other payments for the use or purchase of the personal property, (ii) a valid, binding and enforceable contract or lease for the purchase or use of the tangible personal property, and (iii) a provision for contractual payments to be made that will return the cost of the property and provide earnings on the investments within the anticipated useful life of the property which shall be at least three years.
C. The payments must be made payable or guaranteed by one or more domestic governmental entities or business entities whose obligations would qualify for investment under § 38.2-1421.
D. The unit cost of such property shall not be less than $25,000, and the cost of all property covered by any single contract or lease shall not be less than $100,000.
E. The tangible personal property shall not include furniture or fixtures.
1983, c. 457, § 38.1-217.43; 1986, c. 562; 1992, c. 588.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 38.2-1440
What does Code of Virginia § 38.2-1440 cover?
Section 38.2-1440 ("Investment in personal property") 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 § 38.2-1440?
A common citation format is "Code of Virginia § 38.2-1440" (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 § 38.2-1440 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.