CODE OF VIRGINIA

POWER TO ENTER INTO RECIPROCAL INSURANCE CONTRACTS (§ 38.2-1204)

A. Persons of this Commonwealth may enter into reciprocal insurance contracts
with each other and with persons of other states and countries.  For the
purposes of this chapter, the definition of “person” shall also
include any county, city, or town, school board, Transportation District
Commission, or any other local governmental authority or local agency or public
service corporation owned, operated or controlled by a locality or local
government authority, with power to enter into contractual undertakings within
or without the Commonwealth.

B. For any corporation now existing or hereafter organized under the laws of
this Commonwealth, the power and authority to enter into reciprocal insurance
contracts shall be in addition to the powers conferred upon it in its
certificate of incorporation, and shall be incidental to the purposes for which
the corporation is organized.

HISTORY: Code 1950, §§ 38-543, 38-550; 1952, c. 317, §§ 38.1-692, 38.1-693;
1986, c. 562.