{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-2705.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-2705.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-2705.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-2705.html"}],"law_id":66419,"edition_id":1,"section_id":66419,"structure_id":15499,"section_number":"15.2-2705","catch_line":"Required provisions in contract; election of governing authority; financial plan; management plan","history":"1986, cc. 520, 556, \u00a7 15.1-503.4:5; 1997, c. 587.","full_text":"Any intergovernmental contract entered into pursuant to this chapter for the purpose of establishing a group self-insurance pool shall provide:\n\n1\n\nFor election by pool members of a governing authority for the pool, which may be a board of directors, a majority of whom shall be elected or appointed officials of pool members.2\n\nA financial plan setting forth in general terms:\n\t\t\ta. The insurance coverages to be offered by the group self-insurance pool, applicable deductible levels, and the maximum level of claims which the pool will self-insure;\n\t\t\tb. The amount of cash reserves to be set aside for the payment of claims;\n\t\t\tc. The amount of insurance to be purchased by the pool to provide coverage over and above the claims which are not to be satisfied directly from the pool’s resources; and\n\t\t\td. The amount, if any, of aggregate excess insurance coverage to be purchased and maintained in the event that the group self-insurance pool’s resources are exhausted in a given fiscal period.3\n\nA plan of management which provides for all of the following:\n\t\t\ta. The means of establishing the governing authority of the pool;\n\t\t\tb. The responsibility of the governing authority for fixing contributions to the pool, maintaining reserves, levying and collecting assessments for deficiencies, disposing of surpluses, and administration of the pool in the event of termination or insolvency;\n\t\t\tc. The basis upon which new members may be admitted to, and existing members may leave, the pool;\n\t\t\td. The identification of funds and reserves by exposure areas; and\n\t\t\te. Such other provisions as are necessary or desirable for the operation of the pool.","order_by":null,"text":{"0":{"id":241097,"text":"Any intergovernmental contract entered into pursuant to this chapter for the purpose of establishing a group self-insurance pool shall provide:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":241098,"text":"For election by pool members of a governing authority for the pool, which may be a board of directors, a majority of whom shall be elected or appointed officials of pool members.","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":241099,"text":"A financial plan setting forth in general terms:\n\t\t\ta. The insurance coverages to be offered by the group self-insurance pool, applicable deductible levels, and the maximum level of claims which the pool will self-insure;\n\t\t\tb. The amount of cash reserves to be set aside for the payment of claims;\n\t\t\tc. The amount of insurance to be purchased by the pool to provide coverage over and above the claims which are not to be satisfied directly from the pool’s resources; and\n\t\t\td. The amount, if any, of aggregate excess insurance coverage to be purchased and maintained in the event that the group self-insurance pool’s resources are exhausted in a given fiscal period.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":241100,"text":"A plan of management which provides for all of the following:\n\t\t\ta. The means of establishing the governing authority of the pool;\n\t\t\tb. The responsibility of the governing authority for fixing contributions to the pool, maintaining reserves, levying and collecting assessments for deficiencies, disposing of surpluses, and administration of the pool in the event of termination or insolvency;\n\t\t\tc. The basis upon which new members may be admitted to, and existing members may leave, the pool;\n\t\t\td. The identification of funds and reserves by exposure areas; and\n\t\t\te. Such other provisions as are necessary or desirable for the operation of the pool.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2"}},"ancestry":[{"id":15499,"edition_id":1,"name":"Local Government Group Self-Insurance Pools","identifier":"27","label":"chapter","depth":3,"order_by":1,"parent_id":12733,"metadata":{},"date_created":"2026-06-26 03:55:35","date_modified":"2026-06-26 03:55:35","permalink":{"id":156215,"object_type":"structure","relational_id":15499,"identifier":"27","token":"15.2\/II\/27","url":"\/15.2\/II\/27\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12733,"edition_id":1,"name":"Powers of Local Government","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":152369,"object_type":"structure","relational_id":12733,"identifier":"II","token":"15.2\/II","url":"\/15.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":74035,"structure_id":15499,"section_number":"15.2-2700","catch_line":"Declaration of policy, findings and purpose","url":"\/15.2-2700\/","token":"15.2\/II\/27\/15.2-2700","metadata":false},{"id":59067,"structure_id":15499,"section_number":"15.2-2701","catch_line":"Definition","url":"\/15.2-2701\/","token":"15.2\/II\/27\/15.2-2701","metadata":false},{"id":78613,"structure_id":15499,"section_number":"15.2-2702","catch_line":"Commonwealth and agencies thereof authorized to exercise powers under this chapter","url":"\/15.2-2702\/","token":"15.2\/II\/27\/15.2-2702","metadata":false},{"id":81205,"structure_id":15499,"section_number":"15.2-2703","catch_line":"Group self-insurance pools authorized","url":"\/15.2-2703\/","token":"15.2\/II\/27\/15.2-2703","metadata":false},{"id":77220,"structure_id":15499,"section_number":"15.2-2704","catch_line":"Powers of group self-insurance pool; self-insurer for motor vehicle security; surety","url":"\/15.2-2704\/","token":"15.2\/II\/27\/15.2-2704","metadata":false},{"id":66419,"structure_id":15499,"section_number":"15.2-2705","catch_line":"Required provisions in contract; election of governing authority; financial plan; management plan","url":"\/15.2-2705\/","token":"15.2\/II\/27\/15.2-2705","metadata":false},{"id":72261,"structure_id":15499,"section_number":"15.2-2706","catch_line":"State Corporation Commission approval required","url":"\/15.2-2706\/","token":"15.2\/II\/27\/15.2-2706","metadata":false},{"id":81139,"structure_id":15499,"section_number":"15.2-2707","catch_line":"Filing of annual financial statements, deficit correction financial plan with State Corporation Commission required","url":"\/15.2-2707\/","token":"15.2\/II\/27\/15.2-2707","metadata":false},{"id":84013,"structure_id":15499,"section_number":"15.2-2708","catch_line":"Exemptions from disclosure","url":"\/15.2-2708\/","token":"15.2\/II\/27\/15.2-2708","metadata":false},{"id":83025,"structure_id":15499,"section_number":"15.2-2709","catch_line":"Group self-insurance pool not an insurer","url":"\/15.2-2709\/","token":"15.2\/II\/27\/15.2-2709","metadata":false}],"previous_section":{"id":77220,"structure_id":15499,"section_number":"15.2-2704","catch_line":"Powers of group self-insurance pool; self-insurer for motor vehicle security; surety","url":"\/15.2-2704\/","token":"15.2\/II\/27\/15.2-2704","metadata":false},"next_section":{"id":72261,"structure_id":15499,"section_number":"15.2-2706","catch_line":"State Corporation Commission approval required","url":"\/15.2-2706\/","token":"15.2\/II\/27\/15.2-2706","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-2705\/","history_text":"

This law was first created in 1986. The record of its establishment is cataloged in chapters 520 and 556 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1986 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 1997, chapter 587<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":156237,"object_type":"law","relational_id":66419,"identifier":"15.2-2705","token":"15.2\/II\/27\/15.2-2705","url":"\/15.2-2705\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-2705\/","token":"15.2\/II\/27\/15.2-2705","dublin_core":{"Title":"Required provisions in contract; election of governing authority; financial plan; management plan","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-2705","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Any intergovernmental contract<\/span> entered into pursuant to this chapter for the purpose of establishing a group self-insurance pool shall provide:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> For election by pool members of a governing authority for the pool, which may be a board of directors, a majority of whom shall be elected or appointed officials of pool members. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A financial plan setting forth in general terms:\n\t\t\ta. The insurance coverages to be offered by the group self-insurance pool, applicable deductible levels, and the maximum level of claims which the pool will self-insure;\n\t\t\tb. The amount of cash reserves to be set aside for the payment of claims;\n\t\t\tc. The amount of insurance to be purchased by the pool to provide coverage over and above the claims which are not to be satisfied directly from the pool’s resources; and\n\t\t\td. The amount, if any, of aggregate excess insurance coverage to be purchased and maintained in the event that the group self-insurance pool’s resources are exhausted in a given fiscal period. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> A plan of management which provides for all of the following:\n\t\t\ta. The means of establishing the governing authority of the pool;\n\t\t\tb. The responsibility of the governing authority for fixing contributions to the pool, maintaining reserves, levying and collecting assessments for deficiencies, disposing of surpluses, and administration of the pool in the event of termination or insolvency;\n\t\t\tc. The basis upon which new members may be admitted to, and existing members may leave, the pool;\n\t\t\td. The identification of funds and reserves by exposure areas; and\n\t\t\te. Such other provisions as are necessary or desirable for the operation of the pool. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREQUIRED PROVISIONS IN CONTRACT; ELECTION OF GOVERNING AUTHORITY; FINANCIAL\nPLAN; MANAGEMENT PLAN (\u00a7 15.2-2705)\n\nAny intergovernmental contract entered into pursuant to this chapter for the\npurpose of establishing a group self-insurance pool shall provide:\n\n1. For election by pool members of a governing authority for the pool, which may\nbe a board of directors, a majority of whom shall be elected or appointed\nofficials of pool members.\n\n2. A financial plan setting forth in general terms:\n\t\t\ta. The insurance coverages to be offered by the group self-insurance pool,\napplicable deductible levels, and the maximum level of claims which the pool\nwill self-insure;\n\t\t\tb. The amount of cash reserves to be set aside for the payment of claims;\n\t\t\tc. The amount of insurance to be purchased by the pool to provide coverage\nover and above the claims which are not to be satisfied directly from the\npool’s resources; and\n\t\t\td. The amount, if any, of aggregate excess insurance coverage to be purchased\nand maintained in the event that the group self-insurance pool’s resources\nare exhausted in a given fiscal period.\n\n3. A plan of management which provides for all of the following:\n\t\t\ta. The means of establishing the governing authority of the pool;\n\t\t\tb. The responsibility of the governing authority for fixing contributions to\nthe pool, maintaining reserves, levying and collecting assessments for\ndeficiencies, disposing of surpluses, and administration of the pool in the\nevent of termination or insolvency;\n\t\t\tc. The basis upon which new members may be admitted to, and existing members\nmay leave, the pool;\n\t\t\td. The identification of funds and reserves by exposure areas; and\n\t\t\te. Such other provisions as are necessary or desirable for the operation of\nthe pool.\n\nHISTORY: 1986, cc. 520, 556, \u00a7 15.1-503.4:5; 1997, c. 587.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}