Chap. 313.—An ACT to amend the Code of Virginia by adding thereto a new Section
to be numbered 4204-a, relating to the investment of the minimum capital and
surplus of insurance companies other than life. [S B 270]

Approved March 28, 1940

1. Be it enacted by the General Assembly of Virginia, That
the Code of Virginia be amended by adding thereto a new section to
be numbered forty-two hundred and four-a which new section shall
read as follows:

Section 4204-a. No insurance company, other than a life insur-
ance company hereafter organized under the laws of this State on the
stock plan, shall invest its minimum capital and its funds or assets
comprising its minimum surplus required by law, except in treasury
notes, stocks or bonds of the United States or of the State of Virginia,
or of any municipality or county thereof, or in mortgages on unen-
cumbered real estate within this State worth at least double the
amount loaned thereon.