§ 38.2-3407.3:1. Premium payment arrearages; order of crediting payments
Each (i) insurer proposing to issue individual or group accident and sickness insurance policies providing hospital, medical and surgical or major medical coverage on an expense-incurred basis, (ii) corporation providing individual or group accident and sickness subscription contracts, and (iii) health maintenance organization providing a health care plan for health care services, shall when accepting premium payments in arrears, credit any such payments first to the longest-outstanding arrearage, and then in succession to the most recent arrearage or payment due.
(1999, c. 321.)
Sections: Previous 38.2-3405 38.2-3405.1 38.2-3406 38.2-3407 38.2-3407.1 38.2-3407.2 38.2-3407.3 38.2-3407.3:1 38.2-3407.4 38.2-3407.4:1 38.2-3407.4:2 38.2-3407.5 38.2-3407.5:1 38.2-3407.6 38.2-3407.6:1 NextLast modified: April 3, 2009