Virginia Code 38.2-4229: Reinsurance
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Any nonstock corporation licensed under this chapter may by policy, treaty or other agreement cede to any insurer reinsurance upon the whole or any part of any risk, with or without contingent liability or participation, and if a mutual insurer, with or without membership therein.
Terms Used In Virginia Code 38.2-4229
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Insurer: means an insurance company. See Virginia Code 38.2-100
1986, c. 562.