A domestic insurer may invest in stocks guaranteed by a solvent company incorporated under the laws of the United States or of any state if for the past three years the guarantor's net earnings available for meeting fixed charges is at least 1 1/4 times the sum of (i) the fixed charges of the guarantor and (ii) the dividends on the guaranteed stock.
1983, c. 457, § 38.1-217.27; 1986, c. 562.
Structure Code of Virginia
§ 38.2-1400. Scope and purpose of chapter
§ 38.2-1402. Authority to invest; classification of investments by category
§ 38.2-1403. Category 2 investments limits
§ 38.2-1404. Classification of existing investments
§ 38.2-1405. Dates of determination
§ 38.2-1406. Investment conversions
§ 38.2-1407. Prohibited investments
§ 38.2-1408. Authorization of investments
§ 38.2-1409. Powers with respect to property
§ 38.2-1410. Items not deemed to be prior liens or encumbrances
§ 38.2-1411.1. Investment limits generally
§ 38.2-1411.2. Investment limits in medium grade and lower grade obligations
§ 38.2-1413. Investment limits for one obligor, one issue or one loan
§ 38.2-1414. Limits by type of investment
§ 38.2-1415. Obligations of domestic governmental entities
§ 38.2-1416. Canadian governmental obligations
§ 38.2-1417. Canadian corporate obligations
§ 38.2-1418. Obligations of certain international agencies
§ 38.2-1419. Railroad terminal and other securities
§ 38.2-1420. Transportation equipment trust certificates
§ 38.2-1421. Business entity obligations
§ 38.2-1422. Obligations secured by certain leases
§ 38.2-1424. Guaranteed stocks
§ 38.2-1425. Common stock of banks or trust companies
§ 38.2-1426. Application of earnings tests
§ 38.2-1427. Common stock; covered call options
§ 38.2-1427.1. Limited partnerships
§ 38.2-1427.2. Investment company shares and units of beneficial interest
§ 38.2-1427.3. Investment authority; subsidiary corporations
§ 38.2-1428. Derivative instruments
§ 38.2-1429. Lending of securities
§ 38.2-1432. Savings, certificates, etc.
§ 38.2-1433. Foreign securities
§ 38.2-1435. Second mortgages; wrap-around mortgages
§ 38.2-1436. Mortgage participations
§ 38.2-1437. Limitations on mortgages
§ 38.2-1437.1. Mortgage pass-through securities
§ 38.2-1438. Renewals and extensions when value of property decreases
§ 38.2-1439. Chattel mortgages
§ 38.2-1440. Investment in personal property
§ 38.2-1442. Guaranty association obligations
§ 38.2-1445. Separate accounts deemed Category 1 investments