If an assessment made under § 38.2-403 is not paid to the Commission by the prescribed date, the amount of the assessment, penalty, and interest may be recovered from the defaulting company on motion of the Commission made in the name and for the use of the Commonwealth in the appropriate circuit court after ten days' notice to the company. The license or certificate of authority of any defaulting company to transact business in this Commonwealth may be revoked or suspended by the Commission until it has paid such assessment.
Code 1950, § 38-19; 1952, c. 317, § 38.1-46; 1978, c. 4; 1986, c. 562.
Structure Code of Virginia
§ 38.2-400. Expense of administration of insurance laws borne by licensees; minimum contribution
§ 38.2-401. Fire Programs Fund
§ 38.2-401.1. Dam Safety, Flood Prevention and Protection Assistance Fund assessment
§ 38.2-403. Assessment for expenses
§ 38.2-403.1. Omitted assessments
§ 38.2-404. Recovery of such assessments; revocation or suspension of license
§ 38.2-405. Application for correction of assessment
§ 38.2-406. Report of gross premium income
§ 38.2-412. Companies going out of business
§ 38.2-413. Double assessment respecting same direct gross premium income negated
§ 38.2-414. Assessments to fund program to reduce losses from motor vehicle thefts
§ 38.2-415. Assessment to fund program to reduce losses from insurance fraud