A mutual assessment property and casualty insurer shall not insure real property outside the limits of the territory for which it is authorized to write insurance as specified in its charter or bylaws. However, members may be provided liability or other insurance on risks other than real property insurable under this chapter, wherever located. When members own real property near the border of the territory which extends in a contiguous manner beyond the territory, all of the property may be insured if otherwise insurable under this chapter, whether the property is within or without the territory.
Code 1950, §§ 38-526, 38-529; 1952, c. 317, § 38.1-661; 1986, c. 562.
Structure Code of Virginia
Chapter 25 - Mutual Assessment Property and Casualty Insurers
§ 38.2-2502. Mutual assessment insurance authorized
§ 38.2-2504. Property beyond authorized territory
§ 38.2-2505. Risks limited to those specified in this chapter; personal liability for loss
§ 38.2-2506. What laws applicable
§ 38.2-2507. Conversion of mutual assessment property and casualty insurers
§ 38.2-2508. Incorporation of insurers
§ 38.2-2509. Directors; terms; annual meetings; voting; executive committee
§ 38.2-2511. How license obtained
§ 38.2-2512. Who may become members
§ 38.2-2513. Withdrawal and exclusion of members
§ 38.2-2514. Procedure upon exclusion of member
§ 38.2-2516. Issuance of policies; bylaws as part of contract
§ 38.2-2517. Policy forms to be filed
§ 38.2-2518. Assessment contract
§ 38.2-2519. Classification of risks; rates
§ 38.2-2520. Right to limit assessment liability
§ 38.2-2521. Notice of assessment; how given
§ 38.2-2522. Action to recover assessments; penalty
§ 38.2-2523. Notice of loss and adjustment
§ 38.2-2524. Proceeding when loss or damage exceeds cash on hand
§ 38.2-2525. Agents licenses required
§ 38.2-2526. Surplus to policyholders