The officers or directors of any society who, after due proof of death has been filed, for sixty days refuse or neglect to levy an assessment to pay a claim not disputed by reason of fraud or validity when the death or emergency fund is insufficient to pay the claim, shall be liable to the beneficiary of the certificate. The liability of the officers or directors shall be for a sum not exceeding the face amount of the claim.
Code 1950, §§ 38-145, 38-454; 1952, c. 317, §§ 38.1-549, 38.1-555; 1986, c. 562.
Structure Code of Virginia
§ 38.2-4000. Societies to which chapter applies
§ 38.2-4001. Society may be incorporated
§ 38.2-4002. Continuation of existing societies
§ 38.2-4003. Licensing of additional societies prohibited
§ 38.2-4004. What laws applicable
§ 38.2-4005. License may be renewed annually
§ 38.2-4007. Adoption of bylaws
§ 38.2-4008. Fidelity bond required
§ 38.2-4009. Inspection of books and papers
§ 38.2-4010. Accumulation of reserve for an emergency fund
§ 38.2-4011. Maintenance of reserve for an emergency fund
§ 38.2-4012. Disposition of reserve for an emergency fund; discontinuance of business; receiver
§ 38.2-4013. Certificates of membership
§ 38.2-4014. Required grace period
§ 38.2-4015. Certificate to specify amount of payment and when to be paid
§ 38.2-4016. Payments become liens on society's property
§ 38.2-4017. Notice of assessment
§ 38.2-4018. Liability on officers and directors for failing to levy assessments
§ 38.2-4020. When certificate invalid
§ 38.2-4021. Interest in benefits; assignability; liability to attachment, etc.
§ 38.2-4022. Certain contracts with undertakers, etc., forbidden