Virginia Code 38.2-2501: Definitions
Current as of: 2023 | Check for updates
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As used in this chapter:
Terms Used In Virginia Code 38.2-2501
- Company: means any association, aggregate of individuals, business, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
- Insurer: means an insurance company. See Virginia Code 38.2-100
- Mutual assessment insurance: means property and casualty insurance written by an insurer which has a right to assess its members for contributions and which is licensed pursuant to this chapter. See Virginia Code 38.2-2501
“Mutual assessment insurance” means property and casualty insurance written by an insurer which has a right to assess its members for contributions and which is licensed pursuant to this chapter.
“Mutual assessment property and casualty insurer” means a company without capital stock that writes only mutual assessment insurance insuring property located in or protecting against losses of members who are residents of this Commonwealth.
Code 1950, §§ 38-523, 38-526, 38-529; 1952, c. 317, § 38.1-659; 1954, c. 161; 1960, c. 292; 1962, c. 172; 1974, c. 244; 1986, c. 562.