38.2-4607 - Maximum risk. - Virginia Statutes

§ 38.2-4607. Maximum risk.

On and after July 1, 1952, no company transacting title insurance in thisCommonwealth shall assume a single risk in an amount in excess of fiftypercent of the aggregate amount of its total capital and surplus and itsreserves other than its loss or claim reserves. As used in this section, "asingle risk" means the risk or hazard attaching to or arising in connectionwith any one piece or parcel of property, whether or not the policy insuresother property. Any risk, or portion of any risk, that has been reinsured asauthorized in this title shall be deducted in determining the limitation ofrisk prescribed in this section.

(Code 1950, § 38-167; 1952, c. 317, § 38.1-727; 1986, c. 562.)