Virginia Code 38.2-1922: No rule prohibiting or regulating payment of dividends, etc., to be adopted
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No rate service organization subject to this chapter shall adopt any rule prohibiting or regulating the payment of dividends, savings or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members or subscribers.
Terms Used In Virginia Code 38.2-1922
- Rate service organization: means any entity, including its affiliates or subsidiaries, which either has two or more member insurers or is controlled either directly or indirectly by two or more insurers, other than a joint underwriting association under § 38. See Virginia Code 38.2-1901
1973, c. 504, § 38.1-279.50; 1986, c. 562.