Same; in policies subsequently issued

Va. Code Ann. § 38.2-3218
in effect
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For policies issued on or after the operative date stated in § 38.2-3214 , the loan value referred to in former § 38.1-397 or § 38.2-3308 , whichever applies, shall be the cash surrender value at the end of the current policy year required by § 38.2-3202 . The insurer shall have the right to defer for up to six months after application for the loan is made a loan on the policy, except when made to pay premiums to the insurer. Code 1950, § 38-385; 1952, c. 317, § 38.1-470; 1986, c. 562.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/38.2-3218/Fetched: 10/16/2026

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