Statutes, codes, and regulations
Code of Virginia
Title 38.2 - INSURANCEChapter 10 - ORGANIZATION, ADMISSION AND LICENSING OF INSURERS
Article 7 - DEPOSITS
Section 38.2-1056 - Treasurer to receipt for deposits; responsibility of Commonwealth; taxation of deposited bonds

Va. Code § 38.2-1056

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Current with changes from the 2024 legislative session through ch. 845
Section 38.2-1056 - Treasurer to receipt for deposits; responsibility of Commonwealth; taxation of deposited bonds

The State Treasurer shall provide receipts to the insurer for all securities deposited with him under the provisions of this title. The Commonwealth shall be responsible for the safekeeping of the securities. If some or all of the securities are lost, destroyed or misappropriated, the Commonwealth shall pay or satisfy the loss to the insurer making the deposit. Securities deposited with the State Treasurer shall not be subject to taxation.

Va. Code § 38.2-1056

Code 1950, §§ 38-42, 38-46; 1952, c. 317, § 38.1-120; 1986, c. 562.
Amended by Acts 1986, § c. 562.
Amended by Acts 1952, § c. 317, § 38.1-120.