{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-2607.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-2607.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-2607.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-2607.html"}],"law_id":73559,"edition_id":1,"section_id":73559,"structure_id":12840,"section_number":"38.2-2607","catch_line":"Annual statements","history":"1981, c. 530, \u00a7 38.1-937; 1986, c. 562.","full_text":"On or before March 1 of each year, each home protection company shall file with the Commission its annual statement pursuant to the provisions of \u00a7 38.2-1300, in the form prescribed by the Commission. The annual statement may be based on accounting principles common to the home protection business, provided that they enable the Commission to ascertain whether the reserves required by \u00a7 38.2-2606 have been established. However, the Commission may prescribe a uniform accounting system to be used by home protection companies. The Commission may also require the uniform reporting of statistical information under a plan prescribed or approved by the Commission.","order_by":null,"text":{"0":{"id":264645,"text":"On or before March 1 of each year, each home protection company shall file with the Commission its annual statement pursuant to the provisions of \u00a7 38.2-1300, in the form prescribed by the Commission. The annual statement may be based on accounting principles common to the home protection business, provided that they enable the Commission to ascertain whether the reserves required by \u00a7 38.2-2606 have been established. However, the Commission may prescribe a uniform accounting system to be used by home protection companies. The Commission may also require the uniform reporting of statistical information under a plan prescribed or approved by the Commission.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":12840,"edition_id":1,"name":"Home Protection Companies","identifier":"26","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":213943,"object_type":"structure","relational_id":12840,"identifier":"26","token":"38.2\/26","url":"\/38.2\/26\/","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":85986,"structure_id":12840,"section_number":"38.2-2600","catch_line":"Definitions","url":"\/38.2-2600\/","token":"38.2\/26\/38.2-2600","metadata":false},{"id":75121,"structure_id":12840,"section_number":"38.2-2601","catch_line":"Exemptions","url":"\/38.2-2601\/","token":"38.2\/26\/38.2-2601","metadata":false},{"id":59380,"structure_id":12840,"section_number":"38.2-2602","catch_line":"Limited applicability to certain insurers","url":"\/38.2-2602\/","token":"38.2\/26\/38.2-2602","metadata":false},{"id":66093,"structure_id":12840,"section_number":"38.2-2603","catch_line":"License required; application; fee","url":"\/38.2-2603\/","token":"38.2\/26\/38.2-2603","metadata":false},{"id":80501,"structure_id":12840,"section_number":"38.2-2604","catch_line":"Qualification for license; net worth; deposit of securities with State Treasurer","url":"\/38.2-2604\/","token":"38.2\/26\/38.2-2604","metadata":false},{"id":79225,"structure_id":12840,"section_number":"38.2-2605","catch_line":"Expiration and renewal of license","url":"\/38.2-2605\/","token":"38.2\/26\/38.2-2605","metadata":false},{"id":56816,"structure_id":12840,"section_number":"38.2-2606","catch_line":"Reserves required","url":"\/38.2-2606\/","token":"38.2\/26\/38.2-2606","metadata":false},{"id":73559,"structure_id":12840,"section_number":"38.2-2607","catch_line":"Annual statements","url":"\/38.2-2607\/","token":"38.2\/26\/38.2-2607","metadata":false},{"id":74863,"structure_id":12840,"section_number":"38.2-2608","catch_line":"Home protection contracts; filing; form and contents; application or agreement to purchase; regulation of rates and charges","url":"\/38.2-2608\/","token":"38.2\/26\/38.2-2608","metadata":false},{"id":59105,"structure_id":12840,"section_number":"38.2-2609","catch_line":"Qualifications of agents","url":"\/38.2-2609\/","token":"38.2\/26\/38.2-2609","metadata":false},{"id":81246,"structure_id":12840,"section_number":"38.2-2610","catch_line":"Cancellation of home protection contracts","url":"\/38.2-2610\/","token":"38.2\/26\/38.2-2610","metadata":false},{"id":70070,"structure_id":12840,"section_number":"38.2-2611","catch_line":"Unfair discrimination","url":"\/38.2-2611\/","token":"38.2\/26\/38.2-2611","metadata":false},{"id":55408,"structure_id":12840,"section_number":"38.2-2612","catch_line":"Unfair trade practices","url":"\/38.2-2612\/","token":"38.2\/26\/38.2-2612","metadata":false},{"id":75413,"structure_id":12840,"section_number":"38.2-2613","catch_line":"Application of insurance laws","url":"\/38.2-2613\/","token":"38.2\/26\/38.2-2613","metadata":false},{"id":79863,"structure_id":12840,"section_number":"38.2-2614","catch_line":"Fronting not permitted","url":"\/38.2-2614\/","token":"38.2\/26\/38.2-2614","metadata":false},{"id":63662,"structure_id":12840,"section_number":"38.2-2615","catch_line":"Other insurance transactions prohibited","url":"\/38.2-2615\/","token":"38.2\/26\/38.2-2615","metadata":false},{"id":63494,"structure_id":12840,"section_number":"38.2-2616","catch_line":"Binding arbitration provisions in contract","url":"\/38.2-2616\/","token":"38.2\/26\/38.2-2616","metadata":false},{"id":53987,"structure_id":12840,"section_number":"38.2-2617","catch_line":"Repealed","url":"\/38.2-2617\/","token":"38.2\/26\/38.2-2617","metadata":false},{"id":63420,"structure_id":12840,"section_number":"38.2-2628","catch_line":"Repealed","url":"\/38.2-2628\/","token":"38.2\/26\/38.2-2628","metadata":false}],"previous_section":{"id":56816,"structure_id":12840,"section_number":"38.2-2606","catch_line":"Reserves required","url":"\/38.2-2606\/","token":"38.2\/26\/38.2-2606","metadata":false},"next_section":{"id":74863,"structure_id":12840,"section_number":"38.2-2608","catch_line":"Home protection contracts; filing; form and contents; application or agreement to purchase; regulation of rates and charges","url":"\/38.2-2608\/","token":"38.2\/26\/38.2-2608","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-2607\/","history_text":"

This law was first created in 1981. The record of its establishment is cataloged in chapter 530 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 1981 \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":[{"id":81115,"section_number":"38.2-1300","catch_line":"Annual statements","order_by":null,"url":"\/38.2-1300\/"},{"id":56816,"section_number":"38.2-2606","catch_line":"Reserves required","order_by":null,"url":"\/38.2-2606\/"}],"permalink":{"id":213973,"object_type":"law","relational_id":73559,"identifier":"38.2-2607","token":"38.2\/26\/38.2-2607","url":"\/38.2-2607\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-2607\/","token":"38.2\/26\/38.2-2607","dublin_core":{"Title":"Annual statements","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-2607","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

On or before March 1 of each year, each home protection company<\/span> shall file with the Commission<\/span> its annual statement pursuant to the provisions of \u00a7 38.2-1300<\/a>, in the form prescribed by the Commission<\/span>. The annual statement may be based on accounting principles common to the home protection business, provided that they enable the Commission<\/span> to ascertain whether the reserves required by \u00a7 38.2-2606<\/a> have been established. However, the Commission<\/span> may prescribe a uniform accounting system to be used by home protection companies. The Commission<\/span> may also require the uniform reporting of statistical information under a plan prescribed or approved by the Commission<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nANNUAL STATEMENTS (\u00a7 38.2-2607)\n\nOn or before March 1 of each year, each home protection company shall file with\nthe Commission its annual statement pursuant to the provisions of \u00a7 38.2-1300,\nin the form prescribed by the Commission. The annual statement may be based on\naccounting principles common to the home protection business, provided that they\nenable the Commission to ascertain whether the reserves required by \u00a7 38.2-2606\nhave been established. However, the Commission may prescribe a uniform\naccounting system to be used by home protection companies. The Commission may\nalso require the uniform reporting of statistical information under a plan\nprescribed or approved by the Commission.\n\nHISTORY: 1981, c. 530, \u00a7 38.1-937; 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}}