2006 Code of Virginia § 38.2-1443.1 - Investment of amounts allocated to separate accounts for modified guaranteed life insurance and mod...

38.2-1443.1. Investment of amounts allocated to separate accounts formodified guaranteed life insurance and modified guaranteed annuities.

A. Unless otherwise provided by regulation, the amounts allocated to separateaccounts for modified guaranteed life insurance and modified guaranteedannuities, pursuant to the provisions of 38.2-3113.1, and accumulations onthem, may be invested and reinvested by a domestic insurer in any type ofCategory 1 investment.

B. Investments made pursuant to this section shall be taken into account inapplying the investment limitations of 38.2-1413 and 38.2-1414 toinvestments made by the insurer, by combining the investments under thissection with all other investments subject to such limitations. In additionto the general account meeting these investment limitations, both theseparate account and the general account together shall meet these investmentlimitations. The limitations of 38.2-1413 and 38.2-1414 shall nototherwise apply to investments made pursuant to this section.

(1992, c. 210.)