38.2-304 - Contracts of temporary insurance; duration; what deemed to include. - Virginia Statutes

§ 38.2-304. Contracts of temporary insurance; duration; what deemed toinclude.

A. Oral or written binders or other temporary insurance contracts may be madeand used for a period not exceeding sixty days pending the issuance of thepolicy. Unless otherwise provided, oral or written binders or othertemporary insurance contracts shall be deemed to include the usualprovisions, stipulations and agreements which are commonly used in thisCommonwealth in effecting the class of insurance being written.

B. This section shall not apply to:

1. Binders or other contracts referred to in §§ 38.2-2112 and 38.2-4605;

2. Conditional receipts issued by life insurers; or

3. Group insurance policies.

(Code 1950, § 38-181; 1952, c. 317, § 38.2-332; 1986, c. 562.)