Section 10. Purpose

Latest version.

The purpose of this chapter is to regulate the activities of insurers and agents with respect to the replacement of existing life insurance and annuities and to protect the interests of life insurance and annuity purchasers by establishing minimum standards of conduct to be observed in replacement or financed purchase transactions.

Historical Notes

Derived from Regulation No. 7, Case No. INS810114, Section II, eff. March 1, 1982; amended, Volume 23, Issue 09, eff. April 1, 2007.

Statutory Authority

§§ 12.1-13 and 38.2-223 of the Code of Virginia.

                    
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