§ 15.2-2700. Declaration of policy, findings and purpose
The General Assembly hereby finds and determines that insurance protection is essential to the proper functioning of political subdivisions; that the resources of political subdivisions are burdened by the high cost of and frequent inability to secure such protection through standard carriers; that proper risk management requires the spreading of risk so as to minimize fluctuation in insurance needs; and that, therefore, all contributions of financial and administrative resources made by a political subdivision pursuant to an intergovernmental contract as authorized by this chapter are made for a public and governmental purpose, and that such contributions benefit each contributing political subdivision.
(1986, cc. 520, 556, § 15.1-503.4:1; 1997, c. 587.)
Sections: 15.2-2700 15.2-2701 15.2-2702 15.2-2703 15.2-2704 15.2-2705 15.2-2706 15.2-2707 15.2-2708 15.2-2709 NextLast modified: April 2, 2009