38.2-2520 - Right to limit assessment liability. - Virginia Statutes

§ 38.2-2520. Right to limit assessment liability.

Any mutual assessment property and casualty insurer having a surplus topolicyholders equal to at least 3 times the average annual losses andexpenses of the insurer during the last 5-year period or a surplus topolicyholders of at least $800,000 may limit the assessment liability ofmembers. The liability of members for assessment may be limited during anyone year to an amount not less than one additional current annual assessment.

(1952, c. 317, § 38.1-683.1; 1986, c. 562.)