After an assessment is made, the insurer shall give every member subject to the assessment written notice stating the amount of the member’s assessment and the date when payment is due. Except where the provisions of the bylaws or the policy provide otherwise, the time of payment shall be at least thirty days and no more than sixty days from the service of the notice. That notice may be served personally or by mail. If mailed, the notice shall be deposited with the United States Postal Service and addressed to the member at his residence or place of business as shown on the company records.

History

Code 1950, § 38-535; 1952, c. 317, § 38.1-684; 1986, c. 562.