38.2-4016 - Payments become liens on society's property. - Virginia Statutes

§ 38.2-4016. Payments become liens on society's property.

Upon the occurrence of the risk insured against, the burial society shall beobligated to the beneficiary for payment of the claim unless the contract isinvalid because of fraud or other reason. This indebtedness shall be a lienupon all the property, effects and bills receivable of the society. Thisindebtedness shall have priority over all future incurred indebtedness,except as provided in this chapter in the case of the distribution of assetsof an insolvent corporation, and as to rights of third parties.

(Code 1950, §§ 38-145, 38-451; 1952, c. 317, §§ 38.1-545, 38.1-555; 1986, c.562.)