27-5 - Contracts as to installation of automatic sprinklers with incidental insurance clauses. - Virginia Statutes

§ 27-5. Contracts as to installation of automatic sprinklers with incidentalinsurance clauses.

Nothing contained in Title 38.2 shall be construed as prohibiting theperformance of any contract made for the introduction of automatic sprinklersfor reducing the risk by fire on any property located in this Commonwealthand containing provisions for obtaining or guaranteeing insurance againstloss or damage by fire or water for a specified time at a fixed rate;provided, that all insurance contracts issued as a result of such contractsshall be in the form required by law in this Commonwealth; provided, further,that the contract rate be less than the published rate on risks coveredthereby or the rate used by insurance companies writing such risks.

(1930, p. 23; Michie Code 1942, § 4246c.)