Every subscriber of a domestic reciprocal having contingent assessment liability shall be liable for and shall pay his share of any assessment computed in accordance with this article if, while the policy is in force or within one year after its termination, the subscriber is notified (i) by the attorney of his intention to levy the assessment or (ii) that delinquency proceedings have been commenced against the reciprocal under the provisions of Chapter 15 of this title, and the Commission or receiver intends to levy an assessment.
1952, c. 317, § 38.1-715; 1986, c. 562.
Structure Code of Virginia
Chapter 12 - Reciprocal Insurance
§ 38.2-1202. Insuring power of reciprocals
§ 38.2-1203. What laws applicable to reciprocals; compliance with § 38.2-208
§ 38.2-1204. Power to enter into reciprocal insurance contracts
§ 38.2-1206. License required of reciprocals; surplus
§ 38.2-1207. Exceptions as to reciprocals licensed and operating
§ 38.2-1208. Additional requirements, foreign and alien reciprocals
§ 38.2-1209. Residence and office of attorney of foreign and alien reciprocals
§ 38.2-1210. Contracts executed by attorney
§ 38.2-1211. License required of agent
§ 38.2-1212. Subscribers' liability
§ 38.2-1213. Nonassessable policies
§ 38.2-1214. Savings returned to subscribers
§ 38.2-1216. Clerk of Commission to be appointed agent for service of process; procedure thereafter
§ 38.2-1218. Effect of judgment against reciprocal
§ 38.2-1219. Organization of reciprocals; what declaration to contain
§ 38.2-1220. Attorney to file bond
§ 38.2-1221. Deposit instead of bond
§ 38.2-1222. Subscribers' advisory committee
§ 38.2-1223. Subscriber's agreement and power of attorney
§ 38.2-1224. Modification of power of attorney and subscriber's agreement
§ 38.2-1227. Time limit for assessment
§ 38.2-1228. Subscribers' share in assets
§ 38.2-1229. Impaired reciprocals