Virginia § 6.2-415 - Lender not to cancel insurance policy at time of refinancing under certain circumstances
Full text of Virginia Code of Virginia § 6.2-415 — Lender not to cancel insurance policy at time of refinancing under certain circumstances, with citation guidance and answers to common questions.
§ 6.2-415. Lender not to cancel insurance policy at time of refinancing under certain circumstances
A. No lender shall require a borrower or debtor, for the protection of property securing the credit or lien, to cancel an existing insurance policy on such property at the time of a refinancing solely to change the effective dates of coverage under the policy, unless the expiration date of such policy is within four months of the date of the closing.
B. The provision of subsection A shall not prevent a lender from requesting a new policy when the coverage under the existing policy is inadequate or there is reasonable concern over the soundness or services of the insurer.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 6.2-415
What does Code of Virginia § 6.2-415 cover?
Section 6.2-415 ("Lender not to cancel insurance policy at time of refinancing under certain circumstances") 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 § 6.2-415?
A common citation format is "Code of Virginia § 6.2-415" (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 § 6.2-415 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.