§ 38.2-2504. Property beyond authorized territory
A mutual assessment property and casualty insurer shall not insure real property outside the limits of the territory for which it is authorized to write insurance as specified in its charter or bylaws. However, members may be provided liability or other insurance on risks other than real property insurable under this chapter, wherever located. When members own real property near the border of the territory which extends in a contiguous manner beyond the territory, all of the property may be insured if otherwise insurable under this chapter, whether the property is within or without the territory.
(Code 1950, §§ 38-526, 38-529; 1952, c. 317, § 38.1-661; 1986, c. 562.)
Sections: Previous 38.2-2500 38.2-2501 38.2-2502 38.2-2503 38.2-2504 38.2-2505 38.2-2506 38.2-2507 38.2-2508 38.2-2509 38.2-2510 38.2-2511 38.2-2512 38.2-2513 38.2-2514 NextLast modified: April 3, 2009