Code of Virginia - Title 38.2 Insurance - Section 38.2-304 Contracts of temporary insurance; duration; what deemed to include
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§ 38.2-304. Contracts of temporary insurance; duration; what deemed to include
A. Oral or written binders or other temporary insurance contracts may be made
and used for a period not exceeding sixty days pending the issuance of the
policy. Unless otherwise provided, oral or written binders or other
temporary insurance contracts shall be deemed to include the usual
provisions, stipulations and agreements which are commonly used in this
Commonwealth in effecting the class of insurance being written.
B. This section shall not apply to:
1. Binders or other contracts referred to in §§ 38.2-2112 and 38.2-4605;
2. Conditional receipts issued by life insurers; or
3. Group insurance policies.
(Code 1950, § 38-181; 1952, c. 317, § 38.2-332; 1986, c. 562.)
Sections: 38.2-300 38.2-301 38.2-302 38.2-303 38.2-304 38.2-305 38.2-306 38.2-307 38.2-308 38.2-309 38.2-310 38.2-311 38.2-312 38.2-313 38.2-314
Last modified: April 16, 2009
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