38.2-4808 - Effect of payment to surplus lines broker. - Virginia Statutes

§ 38.2-4808. Effect of payment to surplus lines broker.

A. No surplus lines broker may accept a payment of premium for issuance ofsurplus lines insurance before placing the insurance with an eligible surpluslines insurer.

B. A payment of premium to a surplus lines broker shall be deemed to bepayment to the insurer notwithstanding any policy conditions or stipulationsto the contrary.

(1986, c. 562.)