Nothing contained in this chapter shall be construed to exempt from taxation the property of any person, firm, association or corporation who shall, expressly or impliedly, directly or indirectly, contract or promise to pay a sum of money or other benefit, on account of death, sickness or accident, to any of its members or other person.
Va. Code Ann. § 58.1-3602
Exemptions not applicable to associations, etc., paying death, etc., benefits
Code 1950, § 58-13; 1984, c. 675.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.