Virginia § 38.2-3222 - Computation of present value
Full text of Virginia Code of Virginia § 38.2-3222 — Computation of present value, with citation guidance and answers to common questions.
§ 38.2-3222. Computation of present value
Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence at least equals the minimum nonforfeiture amount on that date. The present value shall be computed using the mortality table, if any, and the interest rate or rates specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract.
1979, c. 437, § 38.1-470.1; 1986, c. 562; 2004, c. 313.
Frequently Asked Questions About Virginia § 38.2-3222
What does Code of Virginia § 38.2-3222 cover?
Section 38.2-3222 ("Computation of present value") 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 § 38.2-3222?
A common citation format is "Code of Virginia § 38.2-3222" (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 § 38.2-3222 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.