{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1226.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1226.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1226.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1226.html"}],"law_id":81495,"edition_id":1,"section_id":81495,"structure_id":13370,"section_number":"38.2-1226","catch_line":"Assessments","history":"1952, c. 317, \u00a7 38.1-714; 1986, c. 562.","full_text":"A\n\nAssessments may be levied upon the subscribers of a domestic reciprocal by the attorney in accordance with § 38.2-1212. The assessments shall be approved in advance by the subscribers’ advisory committee and the Commission.B\n\nEach domestic reciprocal subscriber’s share of a deficiency for which an assessment is made shall be computed by multiplying the premiums earned on the subscriber’s policies during the period to be covered by the assessment by the ratio of the total deficiency to the total premiums earned during the period upon all policies subject to the assessment. However, no assessment shall exceed the aggregate contingent assessment liability computed in accordance with § 38.2-1212. For the purposes of this section, the premiums earned on the subscriber’s policies are the gross premiums charged by the reciprocal for the policies minus any charges not recurring upon the renewal or extension of the policies. No subscriber shall have an offset against any assessment for which he is liable on account of any claim for unearned premium or losses payable.","order_by":null,"text":{"0":{"id":291969,"text":"Assessments may be levied upon the subscribers of a domestic reciprocal by the attorney in accordance with § 38.2-1212. The assessments shall be approved in advance by the subscribers’ advisory committee and the Commission.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":291970,"text":"Each domestic reciprocal subscriber’s share of a deficiency for which an assessment is made shall be computed by multiplying the premiums earned on the subscriber’s policies during the period to be covered by the assessment by the ratio of the total deficiency to the total premiums earned during the period upon all policies subject to the assessment. However, no assessment shall exceed the aggregate contingent assessment liability computed in accordance with § 38.2-1212. For the purposes of this section, the premiums earned on the subscriber’s policies are the gross premiums charged by the reciprocal for the policies minus any charges not recurring upon the renewal or extension of the policies. No subscriber shall have an offset against any assessment for which he is liable on account of any claim for unearned premium or losses payable.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":13370,"edition_id":1,"name":"Domestic Reciprocals","identifier":"2","label":"article","depth":3,"order_by":1,"parent_id":13369,"metadata":{},"date_created":"2026-06-26 03:44:43","date_modified":"2026-06-26 03:44:43","permalink":{"id":211293,"object_type":"structure","relational_id":13370,"identifier":"2","token":"38.2\/12\/2","url":"\/38.2\/12\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13369,"edition_id":1,"name":"Reciprocal Insurance","identifier":"12","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:44:43","date_modified":"2026-06-26 03:44:43","permalink":{"id":211213,"object_type":"structure","relational_id":13369,"identifier":"12","token":"38.2\/12","url":"\/38.2\/12\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12698,"edition_id":1,"name":"Insurance","identifier":"38.2","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":210661,"object_type":"structure","relational_id":12698,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":82841,"structure_id":13370,"section_number":"38.2-1219","catch_line":"Organization of reciprocals; what declaration to contain","url":"\/38.2-1219\/","token":"38.2\/12\/2\/38.2-1219","metadata":false},{"id":70255,"structure_id":13370,"section_number":"38.2-1220","catch_line":"Attorney to file bond","url":"\/38.2-1220\/","token":"38.2\/12\/2\/38.2-1220","metadata":false},{"id":59865,"structure_id":13370,"section_number":"38.2-1221","catch_line":"Deposit instead of bond","url":"\/38.2-1221\/","token":"38.2\/12\/2\/38.2-1221","metadata":false},{"id":55197,"structure_id":13370,"section_number":"38.2-1222","catch_line":"Subscribers' advisory committee","url":"\/38.2-1222\/","token":"38.2\/12\/2\/38.2-1222","metadata":false},{"id":86660,"structure_id":13370,"section_number":"38.2-1223","catch_line":"Subscriber's agreement and power of attorney","url":"\/38.2-1223\/","token":"38.2\/12\/2\/38.2-1223","metadata":false},{"id":58066,"structure_id":13370,"section_number":"38.2-1224","catch_line":"Modification of power of attorney and subscriber's agreement","url":"\/38.2-1224\/","token":"38.2\/12\/2\/38.2-1224","metadata":false},{"id":54344,"structure_id":13370,"section_number":"38.2-1225","catch_line":"Contributions","url":"\/38.2-1225\/","token":"38.2\/12\/2\/38.2-1225","metadata":false},{"id":81495,"structure_id":13370,"section_number":"38.2-1226","catch_line":"Assessments","url":"\/38.2-1226\/","token":"38.2\/12\/2\/38.2-1226","metadata":false},{"id":55134,"structure_id":13370,"section_number":"38.2-1227","catch_line":"Time limit for assessment","url":"\/38.2-1227\/","token":"38.2\/12\/2\/38.2-1227","metadata":false},{"id":75854,"structure_id":13370,"section_number":"38.2-1228","catch_line":"Subscribers' share in assets","url":"\/38.2-1228\/","token":"38.2\/12\/2\/38.2-1228","metadata":false},{"id":84183,"structure_id":13370,"section_number":"38.2-1229","catch_line":"Impaired reciprocals","url":"\/38.2-1229\/","token":"38.2\/12\/2\/38.2-1229","metadata":false},{"id":72446,"structure_id":13370,"section_number":"38.2-1230","catch_line":"Material transactions","url":"\/38.2-1230\/","token":"38.2\/12\/2\/38.2-1230","metadata":false},{"id":64155,"structure_id":13370,"section_number":"38.2-1231","catch_line":"Attorney's financial statement","url":"\/38.2-1231\/","token":"38.2\/12\/2\/38.2-1231","metadata":false}],"previous_section":{"id":54344,"structure_id":13370,"section_number":"38.2-1225","catch_line":"Contributions","url":"\/38.2-1225\/","token":"38.2\/12\/2\/38.2-1225","metadata":false},"next_section":{"id":55134,"structure_id":13370,"section_number":"38.2-1227","catch_line":"Time limit for assessment","url":"\/38.2-1227\/","token":"38.2\/12\/2\/38.2-1227","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1226\/","history_text":"

This law was first created in 1952. The record of its establishment is cataloged in chapter 317 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 1952 \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 1986, chapter 562.<\/p>","references":[{"id":76809,"section_number":"38.2-1212","catch_line":"Subscribers' liability","order_by":null,"url":"\/38.2-1212\/"}],"refers_to":[{"id":76809,"section_number":"38.2-1212","catch_line":"Subscribers' liability","order_by":null,"url":"\/38.2-1212\/"}],"permalink":{"id":211323,"object_type":"law","relational_id":81495,"identifier":"38.2-1226","token":"38.2\/12\/2\/38.2-1226","url":"\/38.2-1226\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1226\/","token":"38.2\/12\/2\/38.2-1226","dublin_core":{"Title":"Assessments","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1226","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Assessments may be levied upon the subscribers of a domestic reciprocal by the attorney in accordance with § 38.2-1212<\/a>. The assessments shall be approved in advance by the subscribers’ advisory committee and the Commission<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Each domestic reciprocal subscriber’s share of a deficiency for which an assessment is made shall be computed by multiplying the premiums earned on the subscriber’s policies during the period to be covered by the assessment by the ratio of the total deficiency to the total premiums earned during the period upon all policies subject to the assessment. However, no assessment shall exceed the aggregate contingent assessment liability computed in accordance with § 38.2-1212<\/a>. For the purposes of this section, the premiums earned on the subscriber’s policies are the gross premiums charged by the reciprocal for the policies minus any charges not recurring upon the renewal or extension of the policies. No subscriber shall have an offset against any assessment for which he is liable on account of any claim for unearned premium or losses payable. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nASSESSMENTS (\u00a7 38.2-1226)\n\nA. Assessments may be levied upon the subscribers of a domestic reciprocal by\nthe attorney in accordance with § 38.2-1212. The assessments shall be\napproved in advance by the subscribers’ advisory committee and the\nCommission.\n\nB. Each domestic reciprocal subscriber’s share of a deficiency for which\nan assessment is made shall be computed by multiplying the premiums earned on\nthe subscriber’s policies during the period to be covered by the\nassessment by the ratio of the total deficiency to the total premiums earned\nduring the period upon all policies subject to the assessment. However, no\nassessment shall exceed the aggregate contingent assessment liability computed\nin accordance with § 38.2-1212. For the purposes of this section, the\npremiums earned on the subscriber’s policies are the gross premiums\ncharged by the reciprocal for the policies minus any charges not recurring upon\nthe renewal or extension of the policies. No subscriber shall have an offset\nagainst any assessment for which he is liable on account of any claim for\nunearned premium or losses payable.\n\nHISTORY: 1952, c. 317, \u00a7 38.1-714; 1986, c. 562.","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}}