38.2-1227 - Time limit for assessment. - Virginia Statutes

§ 38.2-1227. Time limit for assessment.

Every subscriber of a domestic reciprocal having contingent assessmentliability shall be liable for and shall pay his share of any assessmentcomputed in accordance with this article if, while the policy is in force orwithin one year after its termination, the subscriber is notified (i) by theattorney of his intention to levy the assessment or (ii) that delinquencyproceedings have been commenced against the reciprocal under the provisionsof Chapter 15 of this title, and the Commission or receiver intends to levyan assessment.

(1952, c. 317, § 38.1-715; 1986, c. 562.)