CODE OF VIRGINIA

EFFECT OF PAYMENT TO SURPLUS LINES BROKER (§ 38.2-4808)

A. No surplus lines broker may accept a payment of premium for issuance of
surplus lines insurance before placing the insurance with an eligible surplus
lines insurer.

B. A payment of premium to a surplus lines broker shall be deemed to be payment
to the insurer notwithstanding any policy conditions or stipulations to the
contrary.

HISTORY: 1986, c. 562.