{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-1835.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-1835.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-1835.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-1835.html"}],"law_id":57846,"edition_id":1,"section_id":57846,"structure_id":13762,"section_number":"2.2-1835","catch_line":"State Insurance Reserve Trust Fund","history":"1980, c. 488, \u00a7 2.1-526.5; 1982, c. 318; 1988, c. 848; 1996, cc. 475, 510; 2000, cc. 618, 632, \u00a7 2.1-191.8; 2001, c. 844.","full_text":"A\n\nThe State Insurance Reserve Trust Fund (the “Fund”) is established and shall consist of the payments required by subsection B. The Fund shall be under the management and control of the Division, and any claims for losses payable out of the Fund shall be at the direction of the Division. The Fund shall be invested as provided in § 2.2-1806 and interest shall be added to the fund as earned.B\n\nEach agency, department, division, or institution of state government having control over any state structure and contents thereof, or that participates in any program of insurance operated by the Division, shall pay each year into the Fund or any trust fund established pursuant to the provisions of this article amounts necessary to maintain the trusts at levels of funding deemed adequate by the Division. The Division shall set the premium and administrative costs to be paid to it for providing an insurance plan established pursuant to this section. The premiums and administrative costs set by the Division shall be payable in the amounts, at the time and in the manner that the Division in its sole discretion requires. Premiums and administrative costs need not be uniform among participants, but shall be set to best ensure the financial stability of the plan. Whenever any building or structure is under the control of two or more agencies, departments, divisions or institutions of the Commonwealth, the payment required shall be prorated upon the basis of percentage of the area controlled.C\n\nIn the event of loss or damage exceeding $1000 to property on which there is no insurance recovery or limited insurance recovery as a consequence of any action by the Division resulting in noncoverage, reduced insurance, elimination of insured perils or otherwise, the Division shall determine the amount, if any, payable out of the Fund, and such amount, when approved by the Governor, shall be final. The amount payable shall be used for the purpose of restoring the damaged structure or rebuilding it, as the circumstances may require, but in no event shall the amount payable on account of such loss exceed the actual cash value or the replacement cost value of the property in accordance with the basis of insurance, nor shall the amount payable when added to the insurance recovered exceed the actual cash value or the replacement cost value of the property, as recorded in the property and insurance records of the Division.D\n\nIn addition to the amounts payable under subsection C, the costs of operating the Division that are properly allocated to its functions concerning the Fund and other administrative and contractual costs of the Division not otherwise provided for shall be paid out of the Fund, for which purposes such funds are appropriated.","order_by":null,"text":{"0":{"id":211792,"text":"The State Insurance Reserve Trust Fund (the “Fund”) is established and shall consist of the payments required by subsection B. The Fund shall be under the management and control of the Division, and any claims for losses payable out of the Fund shall be at the direction of the Division. The Fund shall be invested as provided in § 2.2-1806 and interest shall be added to the fund as earned.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":211793,"text":"Each agency, department, division, or institution of state government having control over any state structure and contents thereof, or that participates in any program of insurance operated by the Division, shall pay each year into the Fund or any trust fund established pursuant to the provisions of this article amounts necessary to maintain the trusts at levels of funding deemed adequate by the Division. The Division shall set the premium and administrative costs to be paid to it for providing an insurance plan established pursuant to this section. The premiums and administrative costs set by the Division shall be payable in the amounts, at the time and in the manner that the Division in its sole discretion requires. Premiums and administrative costs need not be uniform among participants, but shall be set to best ensure the financial stability of the plan. Whenever any building or structure is under the control of two or more agencies, departments, divisions or institutions of the Commonwealth, the payment required shall be prorated upon the basis of percentage of the area controlled.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":211794,"text":"In the event of loss or damage exceeding $1000 to property on which there is no insurance recovery or limited insurance recovery as a consequence of any action by the Division resulting in noncoverage, reduced insurance, elimination of insured perils or otherwise, the Division shall determine the amount, if any, payable out of the Fund, and such amount, when approved by the Governor, shall be final. The amount payable shall be used for the purpose of restoring the damaged structure or rebuilding it, as the circumstances may require, but in no event shall the amount payable on account of such loss exceed the actual cash value or the replacement cost value of the property in accordance with the basis of insurance, nor shall the amount payable when added to the insurance recovered exceed the actual cash value or the replacement cost value of the property, as recorded in the property and insurance records of the Division.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":211795,"text":"In addition to the amounts payable under subsection C, the costs of operating the Division that are properly allocated to its functions concerning the Fund and other administrative and contractual costs of the Division not otherwise provided for shall be paid out of the Fund, for which purposes such funds are appropriated.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":13762,"edition_id":1,"name":"Division of Risk Management","identifier":"5","label":"article","depth":5,"order_by":1,"parent_id":13093,"metadata":{},"date_created":"2026-06-26 03:45:49","date_modified":"2026-06-26 03:45:49","permalink":{"id":173305,"object_type":"structure","relational_id":13762,"identifier":"5","token":"2.2\/I\/C\/18\/5","url":"\/2.2\/I\/C\/18\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13093,"edition_id":1,"name":"Department of the Treasury","identifier":"18","label":"chapter","depth":4,"order_by":1,"parent_id":13092,"metadata":{},"date_created":"2026-06-26 03:44:16","date_modified":"2026-06-26 03:44:16","permalink":{"id":173141,"object_type":"structure","relational_id":13093,"identifier":"18","token":"2.2\/I\/C\/18","url":"\/2.2\/I\/C\/18\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13092,"edition_id":1,"name":"State Agencies Related to the General Operation of Government","identifier":"C","label":"part","depth":3,"order_by":1,"parent_id":12784,"metadata":{},"date_created":"2026-06-26 03:44:16","date_modified":"2026-06-26 03:44:16","permalink":{"id":172453,"object_type":"structure","relational_id":13092,"identifier":"C","token":"2.2\/I\/C","url":"\/2.2\/I\/C\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12784,"edition_id":1,"name":"Organization of State Government","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12749,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":171455,"object_type":"structure","relational_id":12784,"identifier":"I","token":"2.2\/I","url":"\/2.2\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12749,"edition_id":1,"name":"Administration of Government","identifier":"2.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":171453,"object_type":"structure","relational_id":12749,"identifier":"2.2","token":"2.2","url":"\/2.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":59008,"structure_id":13762,"section_number":"2.2-1832","catch_line":"Division of Risk Management","url":"\/2.2-1832\/","token":"2.2\/I\/C\/18\/5\/2.2-1832","metadata":false},{"id":60043,"structure_id":13762,"section_number":"2.2-1833","catch_line":"Property and insurance records to be maintained","url":"\/2.2-1833\/","token":"2.2\/I\/C\/18\/5\/2.2-1833","metadata":false},{"id":71069,"structure_id":13762,"section_number":"2.2-1834","catch_line":"Inspection of state-owned properties for insurance purposes; determination of coverage; procurement, discontinuance, etc., of insurance","url":"\/2.2-1834\/","token":"2.2\/I\/C\/18\/5\/2.2-1834","metadata":false},{"id":57846,"structure_id":13762,"section_number":"2.2-1835","catch_line":"State Insurance Reserve Trust Fund","url":"\/2.2-1835\/","token":"2.2\/I\/C\/18\/5\/2.2-1835","metadata":false},{"id":62419,"structure_id":13762,"section_number":"2.2-1836","catch_line":"Insurance plan for state-owned buildings and state-owned contents of buildings","url":"\/2.2-1836\/","token":"2.2\/I\/C\/18\/5\/2.2-1836","metadata":false},{"id":64674,"structure_id":13762,"section_number":"2.2-1837","catch_line":"Risk management plan for public liability","url":"\/2.2-1837\/","token":"2.2\/I\/C\/18\/5\/2.2-1837","metadata":false},{"id":87055,"structure_id":13762,"section_number":"2.2-1838","catch_line":"Insurance of state motor vehicles","url":"\/2.2-1838\/","token":"2.2\/I\/C\/18\/5\/2.2-1838","metadata":false},{"id":67299,"structure_id":13762,"section_number":"2.2-1839","catch_line":"Risk management plans administered by the Department of the Treasury's Risk Management Division for political subdivisions, constitutional officers, etc","url":"\/2.2-1839\/","token":"2.2\/I\/C\/18\/5\/2.2-1839","metadata":false},{"id":81406,"structure_id":13762,"section_number":"2.2-1839.1","catch_line":"Not in effect","url":"\/2.2-1839.1\/","token":"2.2\/I\/C\/18\/5\/2.2-1839.1","metadata":false},{"id":83430,"structure_id":13762,"section_number":"2.2-1840","catch_line":"Blanket surety bond plan for state and local employees","url":"\/2.2-1840\/","token":"2.2\/I\/C\/18\/5\/2.2-1840","metadata":false},{"id":54773,"structure_id":13762,"section_number":"2.2-1841","catch_line":"Blanket surety bond plan for moneys under control of court","url":"\/2.2-1841\/","token":"2.2\/I\/C\/18\/5\/2.2-1841","metadata":false},{"id":62330,"structure_id":13762,"section_number":"2.2-1842","catch_line":"Sovereign immunity","url":"\/2.2-1842\/","token":"2.2\/I\/C\/18\/5\/2.2-1842","metadata":false},{"id":72722,"structure_id":13762,"section_number":"2.2-1843","catch_line":"Loss prevention","url":"\/2.2-1843\/","token":"2.2\/I\/C\/18\/5\/2.2-1843","metadata":false}],"previous_section":{"id":71069,"structure_id":13762,"section_number":"2.2-1834","catch_line":"Inspection of state-owned properties for insurance purposes; determination of coverage; procurement, discontinuance, etc., of insurance","url":"\/2.2-1834\/","token":"2.2\/I\/C\/18\/5\/2.2-1834","metadata":false},"next_section":{"id":62419,"structure_id":13762,"section_number":"2.2-1836","catch_line":"Insurance plan for state-owned buildings and state-owned contents of buildings","url":"\/2.2-1836\/","token":"2.2\/I\/C\/18\/5\/2.2-1836","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-1835\/","history_text":"

This law was first created in 1980. The record of its establishment is cataloged in chapter 488 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 1980 \u201cActs\u201d aren\u2019t available online. It has been modified 5 times. 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. Those modifications are as follows: in 1982, chapter 318; in 1988, chapter 848; in 1996, chapters 475<\/a> and 510<\/a>; in 2000, chapters 618<\/a> and 632<\/a>; in 2001, chapter 844<\/a>.<\/p>","references":false,"refers_to":[{"id":70116,"section_number":"2.2-1806","catch_line":"Investment of current funds in state treasury; withdrawals and transfers of moneys to be invested","order_by":null,"url":"\/2.2-1806\/"}],"permalink":{"id":173319,"object_type":"law","relational_id":57846,"identifier":"2.2-1835","token":"2.2\/I\/C\/18\/5\/2.2-1835","url":"\/2.2-1835\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-1835\/","token":"2.2\/I\/C\/18\/5\/2.2-1835","dublin_core":{"Title":"State Insurance Reserve Trust Fund","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-1835","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The State Insurance Reserve Trust Fund (the “Fund”) is established and shall consist of the payments required by subsection B. The Fund shall be under the management and control of the Division, and any claims for losses payable out of the Fund shall be at the direction of the Division. The Fund shall be invested as provided in § 2.2-1806<\/a> and interest shall be added to the fund as earned. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Each agency, department, division, or institution of state government having control over any state structure and contents thereof, or that participates in any program of insurance operated by the Division, shall pay each year into the Fund or any trust fund established pursuant to the provisions of this article amounts necessary to maintain the trusts at levels of funding deemed adequate by the Division. The Division shall set the premium and administrative costs to be paid to it for providing an insurance plan established pursuant to this section. The premiums and administrative costs set by the Division shall be payable in the amounts, at the time and in the manner that the Division in its sole discretion requires. Premiums and administrative costs need not be uniform among participants, but shall be set to best ensure the financial stability of the plan. Whenever any building or structure is under the control of two or more agencies, departments, divisions or institutions of the Commonwealth, the payment required shall be prorated upon the basis of percentage of the area controlled. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> In the event of loss or damage exceeding $1000 to property on which there is no insurance recovery or limited insurance recovery as a consequence of any action by the Division resulting in noncoverage, reduced insurance, elimination of insured perils or otherwise, the Division shall determine the amount, if any, payable out of the Fund, and such amount, when approved by the Governor, shall be final. The amount payable shall be used for the purpose of restoring the damaged structure or rebuilding it, as the circumstances may require, but in no event shall the amount payable on account of such loss exceed the actual cash value or the replacement cost value of the property in accordance with the basis of insurance, nor shall the amount payable when added to the insurance recovered exceed the actual cash value or the replacement cost value of the property, as recorded in the property and insurance records of the Division. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> In addition to the amounts payable under subsection C, the costs of operating the Division that are properly allocated to its functions concerning the Fund and other administrative and contractual costs of the Division not otherwise provided for shall be paid out of the Fund, for which purposes such funds are appropriated. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSTATE INSURANCE RESERVE TRUST FUND (\u00a7 2.2-1835)\n\nA. The State Insurance Reserve Trust Fund (the “Fund”) is\nestablished and shall consist of the payments required by subsection B. The Fund\nshall be under the management and control of the Division, and any claims for\nlosses payable out of the Fund shall be at the direction of the Division. The\nFund shall be invested as provided in § 2.2-1806 and interest shall be\nadded to the fund as earned.\n\nB. Each agency, department, division, or institution of state government having\ncontrol over any state structure and contents thereof, or that participates in\nany program of insurance operated by the Division, shall pay each year into the\nFund or any trust fund established pursuant to the provisions of this article\namounts necessary to maintain the trusts at levels of funding deemed adequate by\nthe Division. The Division shall set the premium and administrative costs to be\npaid to it for providing an insurance plan established pursuant to this section.\nThe premiums and administrative costs set by the Division shall be payable in\nthe amounts, at the time and in the manner that the Division in its sole\ndiscretion requires. Premiums and administrative costs need not be uniform among\nparticipants, but shall be set to best ensure the financial stability of the\nplan. Whenever any building or structure is under the control of two or more\nagencies, departments, divisions or institutions of the Commonwealth, the\npayment required shall be prorated upon the basis of percentage of the area\ncontrolled.\n\nC. In the event of loss or damage exceeding $1000 to property on which there is\nno insurance recovery or limited insurance recovery as a consequence of any\naction by the Division resulting in noncoverage, reduced insurance, elimination\nof insured perils or otherwise, the Division shall determine the amount, if any,\npayable out of the Fund, and such amount, when approved by the Governor, shall\nbe final. The amount payable shall be used for the purpose of restoring the\ndamaged structure or rebuilding it, as the circumstances may require, but in no\nevent shall the amount payable on account of such loss exceed the actual cash\nvalue or the replacement cost value of the property in accordance with the basis\nof insurance, nor shall the amount payable when added to the insurance recovered\nexceed the actual cash value or the replacement cost value of the property, as\nrecorded in the property and insurance records of the Division.\n\nD. In addition to the amounts payable under subsection C, the costs of operating\nthe Division that are properly allocated to its functions concerning the Fund\nand other administrative and contractual costs of the Division not otherwise\nprovided for shall be paid out of the Fund, for which purposes such funds are\nappropriated.\n\nHISTORY: 1980, c. 488, \u00a7 2.1-526.5; 1982, c. 318; 1988, c. 848; 1996, cc. 475,\n510; 2000, cc. 618, 632, \u00a7 2.1-191.8; 2001, c. 844.","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}}