Virginia Code 38.2-1520: Liquidation of alien insurers
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Proceedings in liquidation of the business of the United States branch of an alien insurer having trusteed assets in this Commonwealth may be instituted and conducted in the manner prescribed in this chapter for domestic insurers. However, only the assets of the business of the United States branch shall be included in the proceedings.
Terms Used In Virginia Code 38.2-1520
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Insurer: means an insurance company. See Virginia Code 38.2-100
- United States: includes the 50 states, the District of Columbia the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands and the United States Virgin Islands. See Virginia Code 1-255
1952, c. 317, § 38.1-144; 1986, c. 562.