38.2-2808 - Participation in association by insurers. - Virginia Statutes

§ 38.2-2808. Participation in association by insurers.

Each insurer that is a member of the association shall participate in thetemporary contributions to finance the operation of the association in theproportion that the net direct premiums written by each member during thepreceding calendar year bears to the aggregate net direct premiums written inthis Commonwealth by all members of the association. However, the net directpremiums written by each member shall exclude that portion of premiumsattributable to the operation of the association. Each insurer'sparticipation in the association shall be determined annually on the basis ofsuch premiums written during the preceding calendar year in the manner setforth in the plan of operation.

(1976, c. 85, § 38.1-782; 1986, c. 562.)