Third-party ownership

Va. Code Ann. § 38.2-3507
in effect
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The word "insured," as used in this article, shall not be construed to prevent a person with a proper insurable interest from applying for and owning a policy covering another person or from being entitled to any indemnities, benefits and rights provided under the policy. 1952, c. 317, § 38.1-353; 1986, c. 562.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/38.2-3507/Fetched: 10/16/2026

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