§ 38.2-106. Annuities
"Annuities" means all agreements to make periodic payments in specified or calculable sums pursuant to the terms of a contract for a stated period of time or for the life of the person or persons specified in the contract. "Annuities" does not include contracts defined in § 38.2-102 and qualified charitable gift annuities as defined in § 38.2-106.1.
As used in this title, unless the context requires otherwise, "annuity" shall be deemed to include "variable annuity" and "modified guaranteed annuity," and shall be deemed to include a contract under which a lump sum cash settlement is an alternative to the option of periodic payments.
(1952, c. 317, § 38.1-4; 1966, c. 289; 1970, c. 532; 1985, c. 312; 1986, c. 562; 1992, c. 210; 1993, c. 764; 1996, c. 425; 2001, c. 64.)
Sections: Previous 38.2-100 38.2-101 38.2-102 38.2-103 38.2-104 38.2-105 38.2-105.1 38.2-106 38.2-106.1 38.2-107 38.2-107.1 38.2-108 38.2-109 38.2-110 38.2-111 NextLast modified: April 16, 2009