§ 38.2-2520. Right to limit assessment liability
Any mutual assessment property and casualty insurer having a surplus to policyholders equal to at least 3 times the average annual losses and expenses of the insurer during the last 5-year period or a surplus to policyholders of at least $800,000 may limit the assessment liability of members. The liability of members for assessment may be limited during any one year to an amount not less than one additional current annual assessment.
(1952, c. 317, § 38.1-683.1; 1986, c. 562.)
Sections: Previous 38.2-2513 38.2-2514 38.2-2515 38.2-2516 38.2-2517 38.2-2518 38.2-2519 38.2-2520 38.2-2521 38.2-2522 38.2-2523 38.2-2524 38.2-2525 38.2-2526 38.2-2527 NextLast modified: April 3, 2009