Va. Code § 38.2-3111

Current with changes from the 2024 legislative session through ch. 845

Section 38.2-3111 - Assignment of life insurance policies

No life insurance policy shall be taken out by the insured or by a person having an insurable interest in the insured's life for the mere purpose of assignment. A policy may be assigned whether or not the assignee has an insurable interest in the life insured unless the policy provides otherwise.

Va. Code § 38.2-3111

Code 1950, § 38-367; 1952, c. 317, § 38.1-442; 1962, c. 590; 1986, c. 562.

Amended by Acts 1986, § c. 562.

Amended by Acts 1962, § c. 590.

Amended by Acts 1952, § c. 317, § 38.1-442.