{"law_id":"778090","section_number":"38.2-2520","catch_line":"Right to limit assessment liability","history":"1952, c. 317, \u00a7 38.1-683.1; 1986, c. 562.","order_by":null,"metadata":false,"court_decisions":{},"official_url":"http:\/\/law.lis.virginia.gov\/vacode\/38.2-2520\/","refers_to":false,"url":"\/38.2-2520\/","token":"38.2\/25\/4\/38.2-2520","structure":{"1":{"id":"1696","name":"Insurance Transactions","identifier":"4","label":"article","url":"\/38.2\/25\/4\/"},"2":{"id":"637","name":"Mutual Assessment Property And Casualty Insurers","identifier":"25","label":"chapter","url":"\/38.2\/25\/"},"3":{"id":"7","name":"Insurance","identifier":"38.2","label":"title","url":"\/38.2\/"}},"referred_to_by":false,"edition_id":"11","section_id":"778090","structure_id":"1696","full_text":"Any mutual assessment property and casualty insurer having a surplus to policyholders equal to at least 3 times the average annual losses and expenses of the insurer during the last 5-year period or a surplus to policyholders of at least $ 800,000 may limit the assessment liability of members. The liability of members for assessment may be limited during any one year to an amount not less than one additional current annual assessment.","text":{"0":{"id":"2509148","text":"Any mutual assessment property and casualty insurer having a surplus to policyholders equal to at least 3 times the average annual losses and expenses of the insurer during the last 5-year period or a surplus to policyholders of at least $ 800,000 may limit the assessment liability of members. The liability of members for assessment may be limited during any one year to an amount not less than one additional current annual assessment.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":{"1":{"id":"1696","name":"Insurance Transactions","identifier":"4","label":"article","url":"\/38.2\/25\/4\/"},"2":{"id":"637","name":"Mutual Assessment Property And Casualty Insurers","identifier":"25","label":"chapter","url":"\/38.2\/25\/"},"3":{"id":"7","name":"Insurance","identifier":"38.2","label":"title","url":"\/38.2\/"}},"structure_contents":{"0":{"id":"784364","structure_id":"1696","section_number":"38.2-2516","catch_line":"Issuance of policies; bylaws as part of contract","url":"\/38.2-2516\/","token":"38.2\/25\/4\/38.2-2516"},"1":{"id":"777758","structure_id":"1696","section_number":"38.2-2517","catch_line":"Policy forms to be filed","url":"\/38.2-2517\/","token":"38.2\/25\/4\/38.2-2517"},"2":{"id":"777475","structure_id":"1696","section_number":"38.2-2518","catch_line":"Assessment contract","url":"\/38.2-2518\/","token":"38.2\/25\/4\/38.2-2518"},"3":{"id":"791799","structure_id":"1696","section_number":"38.2-2519","catch_line":"Classification of risks; rates","url":"\/38.2-2519\/","token":"38.2\/25\/4\/38.2-2519"},"4":{"id":"778090","structure_id":"1696","section_number":"38.2-2520","catch_line":"Right to limit assessment liability","url":"\/38.2-2520\/","token":"38.2\/25\/4\/38.2-2520"},"5":{"id":"780956","structure_id":"1696","section_number":"38.2-2521","catch_line":"Notice of assessment; how given","url":"\/38.2-2521\/","token":"38.2\/25\/4\/38.2-2521"},"6":{"id":"775380","structure_id":"1696","section_number":"38.2-2522","catch_line":"Action to recover assessments; penalty","url":"\/38.2-2522\/","token":"38.2\/25\/4\/38.2-2522"},"7":{"id":"776047","structure_id":"1696","section_number":"38.2-2523","catch_line":"Notice of loss and adjustment","url":"\/38.2-2523\/","token":"38.2\/25\/4\/38.2-2523"},"8":{"id":"766859","structure_id":"1696","section_number":"38.2-2524","catch_line":"Proceeding when loss or damage exceeds cash on hand","url":"\/38.2-2524\/","token":"38.2\/25\/4\/38.2-2524"},"9":{"id":"786686","structure_id":"1696","section_number":"38.2-2525","catch_line":"Agents licenses required","url":"\/38.2-2525\/","token":"38.2\/25\/4\/38.2-2525"}},"previous_section":{"id":"791799","structure_id":"1696","section_number":"38.2-2519","catch_line":"Classification of risks; rates","url":"\/38.2-2519\/","token":"38.2\/25\/4\/38.2-2519"},"next_section":{"id":"780956","structure_id":"1696","section_number":"38.2-2521","catch_line":"Notice of assessment; how given","url":"\/38.2-2521\/","token":"38.2\/25\/4\/38.2-2521"},"references":false,"formats":{"txt":"\/38.2-2520.txt","json":"\/38.2-2520.json","xml":"\/38.2-2520.xml"},"dublin_core":{"Title":"Right to limit assessment liability","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-2520","Relation":"Code of Virginia"},"plain_text":"                                 CODE OF VIRGINIA\n\nRIGHT TO LIMIT ASSESSMENT LIABILITY (\u00a7 38.2-2520)\n\nAny mutual assessment property and casualty insurer having a surplus to\npolicyholders equal to at least 3 times the average annual losses and expenses\nof the insurer during the last 5-year period or a surplus to policyholders of at\nleast $ 800,000 may limit the assessment liability of members. The liability of\nmembers for assessment may be limited during any one year to an amount not less\nthan one additional current annual assessment.\n\nHISTORY: 1952, c. 317, \u00a7 38.1-683.1; 1986, c. 562."}