CHAPTER 28

An Act to amend and reenact § 88.1-195 of the Code of Virginia, relating
to Canadian securities in which domestic insurance companies and
insurers may invest.

[H 205]

Approved February 11, 1958
Be it enacted by the General Assembly of Virginia:

1. That § 88.1-195 of the Code of Virginia be amended and reenacted
as follows:
§ 38.1-195. Canadian obligations—Any such insurer may invest its
funds in an amount not exceeding ten per centum of its assets in the bonds,
notes, warrants or other securities of the Dominion of Canada or of any
province thereof, or of any municipality in the Dominion of Canada having
@ population of at least one hundred thousand, or in any bonds fully guar-
anteed as to payment of principal and interest by the Dominion of Canada
or any province thereof, if such bonds are payable both as to principal and
interest in lawful money of the United States or of the Dominion of Canada,
and if within the five years immediately preceding the date of the proposed
investment there has been no default on the part of the issuing govern-
mental unit in the payment of principal or interest of any of its bonds or
other securities.