Virginia Code 38.2-1409: Powers with respect to property
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Subject to any applicable limitations and restrictions in this chapter, a domestic insurer may own, hold, maintain, manage, operate, lease, sell, convey, and collect and receive income from any property acquired as permitted in this chapter.
Terms Used In Virginia Code 38.2-1409
- Insurer: means a company licensed pursuant to Chapter 10 (§ 38. See Virginia Code 38.2-1401
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
1983, c. 457, § 38.1-217.10; 1986, c. 562.