2014 Virginia Code
Title 38.2 - Insurance
§ 38.2-3127. (Repealed effective January 1, 2015) Acceptance of valuation of another state

A. Instead of the valuation of the reserves required of any foreign or alien insurer under § 38.2-3126, the Commission may accept any valuation made, or caused to be made, by the insurance supervisory official of any state or other jurisdiction if (i) the valuation complies with the minimum standards of this article and (ii) the official of the jurisdiction accepts, as sufficient and valid for all legal purposes, the certificate of valuation of the Commission when that certificate states the valuation to have been made in a specified manner according to which the aggregate reserves would be at least as large as if they had been computed in the manner prescribed by the law of that state or jurisdiction.

B. Each foreign or alien insurer shall annually furnish to the Commission a certificate from the insurance supervisory official of its state of domicile or entry into the United States that he has made a valuation of the insurer's policies in force on December 31, and that he finds the value of the policies to be as reported in the insurer's annual statement. Any insurer failing to furnish this certificate shall have its policies valued by the Commission as provided in § 38.2-3126.

Code 1950, § 38-391; 1952, c. 317, § 38.1-453; 1986, c. 562; 1990, c. 333 .