§ 38.2-4011. Maintenance of reserve for an emergency fund
When the reserve for an emergency fund accumulated in accordance with the provisions of § 38.2-4010 equals the maximum amount provided in subsection B of that section, it shall be maintained at not less than that amount. However, no burial society shall be required, in any one year, to set aside more than five percent of its net receipts from premiums, dues or assessments from certificates of life insurance, other than certificates issued on a legal reserve basis.
(Code 1950, § 38-462; 1952, c. 317, § 38.1-535; 1986, c. 562.)
Sections: Previous 38.2-4004 38.2-4005 38.2-4006 38.2-4007 38.2-4008 38.2-4009 38.2-4010 38.2-4011 38.2-4012 38.2-4013 38.2-4014 38.2-4015 38.2-4016 38.2-4017 38.2-4018 NextLast modified: April 16, 2009