§ 38.2-4808 Effect of payment to surplus lines broker
A. No surplus lines broker may accept a payment of premium for issuance of surplus lines insurance before placing the insurance with an eligible nonadmitted 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
This law was first created in 1986. The record of its establishment is cataloged in chapter 562 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1986 “Acts” aren’t available online. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2018, chapter 205.
1986, c. 562; 2018, c. 205.