{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-2520.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-2520.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-2520.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-2520.html"}],"law_id":79668,"edition_id":1,"section_id":79668,"structure_id":14941,"section_number":"38.2-2520","catch_line":"Right to limit assessment liability","history":"1952, c. 317, \u00a7 38.1-683.1; 1986, c. 562.","full_text":"Any mutual assessment property and casualty insurer having a surplus to policyholders equal to at least 3 times the average annual losses and expenses of the insurer during the last 5-year period or a surplus to policyholders of at least $800,000 may limit the assessment liability of members. The liability of members for assessment may be limited during any one year to an amount not less than one additional current annual assessment.","order_by":null,"text":{"0":{"id":285440,"text":"Any mutual assessment property and casualty insurer having a surplus to policyholders equal to at least 3 times the average annual losses and expenses of the insurer during the last 5-year period or a surplus to policyholders of at least $800,000 may limit the assessment liability of members. The liability of members for assessment may be limited during any one year to an amount not less than one additional current annual assessment.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14941,"edition_id":1,"name":"Insurance Transactions","identifier":"4","label":"article","depth":3,"order_by":1,"parent_id":13766,"metadata":{},"date_created":"2026-06-26 03:50:55","date_modified":"2026-06-26 03:50:55","permalink":{"id":213883,"object_type":"structure","relational_id":14941,"identifier":"4","token":"38.2\/25\/4","url":"\/38.2\/25\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13766,"edition_id":1,"name":"Mutual Assessment Property and Casualty Insurers","identifier":"25","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:45:49","date_modified":"2026-06-26 03:45:49","permalink":{"id":213811,"object_type":"structure","relational_id":13766,"identifier":"25","token":"38.2\/25","url":"\/38.2\/25\/","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":69506,"structure_id":14941,"section_number":"38.2-2516","catch_line":"Issuance of policies; bylaws as part of contract","url":"\/38.2-2516\/","token":"38.2\/25\/4\/38.2-2516","metadata":false},{"id":69640,"structure_id":14941,"section_number":"38.2-2517","catch_line":"Policy forms to be filed","url":"\/38.2-2517\/","token":"38.2\/25\/4\/38.2-2517","metadata":false},{"id":69465,"structure_id":14941,"section_number":"38.2-2518","catch_line":"Assessment contract","url":"\/38.2-2518\/","token":"38.2\/25\/4\/38.2-2518","metadata":false},{"id":86250,"structure_id":14941,"section_number":"38.2-2519","catch_line":"Classification of risks; rates","url":"\/38.2-2519\/","token":"38.2\/25\/4\/38.2-2519","metadata":false},{"id":79668,"structure_id":14941,"section_number":"38.2-2520","catch_line":"Right to limit assessment liability","url":"\/38.2-2520\/","token":"38.2\/25\/4\/38.2-2520","metadata":false},{"id":57007,"structure_id":14941,"section_number":"38.2-2521","catch_line":"Notice of assessment; how given","url":"\/38.2-2521\/","token":"38.2\/25\/4\/38.2-2521","metadata":false},{"id":66285,"structure_id":14941,"section_number":"38.2-2522","catch_line":"Action to recover assessments; penalty","url":"\/38.2-2522\/","token":"38.2\/25\/4\/38.2-2522","metadata":false},{"id":76397,"structure_id":14941,"section_number":"38.2-2523","catch_line":"Notice of loss and adjustment","url":"\/38.2-2523\/","token":"38.2\/25\/4\/38.2-2523","metadata":false},{"id":62608,"structure_id":14941,"section_number":"38.2-2524","catch_line":"Proceeding when loss or damage exceeds cash on hand","url":"\/38.2-2524\/","token":"38.2\/25\/4\/38.2-2524","metadata":false},{"id":71959,"structure_id":14941,"section_number":"38.2-2525","catch_line":"Agents licenses required","url":"\/38.2-2525\/","token":"38.2\/25\/4\/38.2-2525","metadata":false}],"previous_section":{"id":86250,"structure_id":14941,"section_number":"38.2-2519","catch_line":"Classification of risks; rates","url":"\/38.2-2519\/","token":"38.2\/25\/4\/38.2-2519","metadata":false},"next_section":{"id":57007,"structure_id":14941,"section_number":"38.2-2521","catch_line":"Notice of assessment; how given","url":"\/38.2-2521\/","token":"38.2\/25\/4\/38.2-2521","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-2520\/","history_text":"<p>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":false,"refers_to":false,"permalink":{"id":213901,"object_type":"law","relational_id":79668,"identifier":"38.2-2520","token":"38.2\/25\/4\/38.2-2520","url":"\/38.2-2520\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-2520\/","token":"38.2\/25\/4\/38.2-2520","dublin_core":{"Title":"Right to limit assessment liability","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-2520","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Any <span class=\"dictionary\">mutual assessment property and casualty insurer<\/span> having a <span class=\"dictionary\">surplus to policyholders<\/span> equal to at least 3 times the average annual losses and expenses of the insurer during the last 5-year period or a <span class=\"dictionary\">surplus to policyholders<\/span> of at least $800,000 may limit the assessment liability of members. The liability of members for assessment may be limited during any one year to an amount not less than one additional current annual assessment.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nRIGHT TO LIMIT ASSESSMENT LIABILITY (\u00a7 38.2-2520)\n\nAny mutual assessment property and casualty insurer having a surplus to\npolicyholders equal to at least 3 times the average annual losses and expenses\nof the insurer during the last 5-year period or a surplus to policyholders of at\nleast $800,000 may limit the assessment liability of members. The liability of\nmembers for assessment may be limited during any one year to an amount not less\nthan one additional current annual assessment.\n\nHISTORY: 1952, c. 317, \u00a7 38.1-683.1; 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}}