Virginia Administrative Code
Title 14 - INSURANCE
Agency 5 - STATE CORPORATION COMMISSION, BUREAU OF INSURANCE
Chapter 318 - RULES GOVERNING TERM AND UNIVERSAL LIFE INSURANCE RESERVE FINANCING
Section 14VAC5-318-70 - Prohibition against avoidance
Universal Citation: 4 VA Admin Code 5-318-70
Current through Register Vol. 41, No. 3, September 23, 2024
No insurer that has covered policies to which this chapter applies, as set forth in 14VAC5-318-20, shall take any action or series of actions or enter into any transaction, arrangement, or series of transactions or arrangements if the purpose of such action, transaction, arrangement, or series thereof is to avoid the requirements of this chapter or to circumvent its purpose and intent, as set forth in 14VAC5-318-10.
Statutory Authority: §§ 12.1-13, 38.2-223, and 38.2-1316.7 of the Code of Virginia.
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