§ 38.2-1228. Subscribers' share in assets
Upon the liquidation of a domestic reciprocal, the assets remaining after discharge of its (i) indebtedness and policy obligations, (ii) the return of any contributions of the attorney or other person made as provided in § 38.2-1225, and (iii) the return of any unused deposits, savings or credits, shall be distributed. The distribution shall be according to a formula approved by the Commission or the court to the persons who were its subscribers within the twelve months prior to the final termination of its license.
(1952, c. 317, § 38.1-717; 1986, c. 562.)
Sections: Previous 38.2-1217 38.2-1218 38.2-1219 38.2-1220 38.2-1221 38.2-1222 38.2-1223 38.2-1224 38.2-1225 38.2-1226 38.2-1227 38.2-1228 38.2-1229 38.2-1230 38.2-1231 NextLast modified: April 16, 2009