{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-2700.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-2700.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-2700.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-2700.html"}],"law_id":76295,"edition_id":1,"section_id":76295,"structure_id":13727,"section_number":"38.2-2700","catch_line":"Purposes of chapter","history":"1968, c. 559, \u00a7 38.1-746; 1986, c. 562.","full_text":"The purposes of this chapter are:\n\n1\n\nTo assure stability in the property insurance market of this Commonwealth;2\n\nTo assure the availability of basic property insurance for qualified property;3\n\nTo encourage maximum use of the voluntary insurance market provided by licensed insurers in obtaining basic property insurance; and4\n\nTo provide for the equitable distribution among licensed insurers of the responsibility for insuring qualified property for which basic property insurance cannot be obtained through the voluntary insurance market.","order_by":null,"text":{"0":{"id":273911,"text":"The purposes of this chapter are:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":273912,"text":"To assure stability in the property insurance market of this Commonwealth;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":273913,"text":"To assure the availability of basic property insurance for qualified property;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":273914,"text":"To encourage maximum use of the voluntary insurance market provided by licensed insurers in obtaining basic property insurance; and","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":273915,"text":"To provide for the equitable distribution among licensed insurers of the responsibility for insuring qualified property for which basic property insurance cannot be obtained through the voluntary insurance market.","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3"}},"ancestry":[{"id":13727,"edition_id":1,"name":"Basic Property Insurance Residual Market Facility and Joint Underwriting Association","identifier":"27","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:45:41","date_modified":"2026-06-26 03:45:41","permalink":{"id":214021,"object_type":"structure","relational_id":13727,"identifier":"27","token":"38.2\/27","url":"\/38.2\/27\/","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":76295,"structure_id":13727,"section_number":"38.2-2700","catch_line":"Purposes of chapter","url":"\/38.2-2700\/","token":"38.2\/27\/38.2-2700","metadata":false},{"id":70510,"structure_id":13727,"section_number":"38.2-2701","catch_line":"Definitions","url":"\/38.2-2701\/","token":"38.2\/27\/38.2-2701","metadata":false},{"id":73266,"structure_id":13727,"section_number":"38.2-2702","catch_line":"Establishment of residual market facility","url":"\/38.2-2702\/","token":"38.2\/27\/38.2-2702","metadata":false},{"id":54721,"structure_id":13727,"section_number":"38.2-2703","catch_line":"Rules, rates, policy forms and endorsements subject to the approval of Commission","url":"\/38.2-2703\/","token":"38.2\/27\/38.2-2703","metadata":false},{"id":57901,"structure_id":13727,"section_number":"38.2-2704","catch_line":"Inspection of property","url":"\/38.2-2704\/","token":"38.2\/27\/38.2-2704","metadata":false},{"id":71280,"structure_id":13727,"section_number":"38.2-2705","catch_line":"Operation of inspection service","url":"\/38.2-2705\/","token":"38.2\/27\/38.2-2705","metadata":false},{"id":66385,"structure_id":13727,"section_number":"38.2-2706","catch_line":"Service of process","url":"\/38.2-2706\/","token":"38.2\/27\/38.2-2706","metadata":false},{"id":58816,"structure_id":13727,"section_number":"38.2-2707","catch_line":"When Commission may order implementation of \u00a7\u00a7 38.2-2708 and 38.2-2709","url":"\/38.2-2707\/","token":"38.2\/27\/38.2-2707","metadata":false},{"id":85005,"structure_id":13727,"section_number":"38.2-2708","catch_line":"Creation and plan of operation of joint underwriting association","url":"\/38.2-2708\/","token":"38.2\/27\/38.2-2708","metadata":false},{"id":81180,"structure_id":13727,"section_number":"38.2-2709","catch_line":"Ceding basic property insurance to association; participation of members; governing body","url":"\/38.2-2709\/","token":"38.2\/27\/38.2-2709","metadata":false},{"id":80031,"structure_id":13727,"section_number":"38.2-2710","catch_line":"Supervision and regulation by Commission","url":"\/38.2-2710\/","token":"38.2\/27\/38.2-2710","metadata":false},{"id":71397,"structure_id":13727,"section_number":"38.2-2711","catch_line":"Immunity from liability; reports, etc., not public documents","url":"\/38.2-2711\/","token":"38.2\/27\/38.2-2711","metadata":false},{"id":60783,"structure_id":13727,"section_number":"38.2-2712","catch_line":"Appeal from decision of inspection service, residual market facility or joint underwriting association","url":"\/38.2-2712\/","token":"38.2\/27\/38.2-2712","metadata":false},{"id":81221,"structure_id":13727,"section_number":"38.2-2713","catch_line":"Obligations not to be impaired in event of repeal of chapter","url":"\/38.2-2713\/","token":"38.2\/27\/38.2-2713","metadata":false}],"next_section":{"id":70510,"structure_id":13727,"section_number":"38.2-2701","catch_line":"Definitions","url":"\/38.2-2701\/","token":"38.2\/27\/38.2-2701","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-2700\/","history_text":"

This law was first created in 1968. The record of its establishment is cataloged in chapter 559 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 1968 \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":87325,"section_number":"38.2-1343","catch_line":"Minimum standards","order_by":null,"url":"\/38.2-1343\/"},{"id":74191,"section_number":"38.2-1902","catch_line":"Scope of chapter","order_by":null,"url":"\/38.2-1902\/"},{"id":86827,"section_number":"38.2-2000.1","catch_line":"Definitions","order_by":null,"url":"\/38.2-2000.1\/"},{"id":54564,"section_number":"38.2-2001","catch_line":"Insurance to which chapter applies","order_by":null,"url":"\/38.2-2001\/"},{"id":62048,"section_number":"38.2-2113","catch_line":"Mailing or electronic delivery of notice of cancellation or refusal to renew","order_by":null,"url":"\/38.2-2113\/"},{"id":83824,"section_number":"38.2-2114","catch_line":"Grounds and procedure for termination of policy; contents of notice; review by Commissioner; exceptions; immunity from liability","order_by":null,"url":"\/38.2-2114\/"},{"id":73837,"section_number":"38.2-602","catch_line":"Definitions","order_by":null,"url":"\/38.2-602\/"}],"refers_to":false,"permalink":{"id":214023,"object_type":"law","relational_id":76295,"identifier":"38.2-2700","token":"38.2\/27\/38.2-2700","url":"\/38.2-2700\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-2700\/","token":"38.2\/27\/38.2-2700","dublin_core":{"Title":"Purposes of chapter","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-2700","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The purposes of this chapter are:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> To assure stability in the property insurance<\/span> market of this Commonwealth; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> To assure the availability of basic property insurance<\/span> for qualified property<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> To encourage maximum use of the voluntary insurance market provided by licensed insurers<\/span> in obtaining basic property insurance<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> To provide for the equitable distribution<\/span> among licensed insurers<\/span> of the responsibility for insuring qualified property<\/span> for which basic property insurance<\/span> cannot be obtained through the voluntary insurance market. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPURPOSES OF CHAPTER (\u00a7 38.2-2700)\n\nThe purposes of this chapter are:\n\n1. To assure stability in the property insurance market of this Commonwealth;\n\n2. To assure the availability of basic property insurance for qualified\nproperty;\n\n3. To encourage maximum use of the voluntary insurance market provided by\nlicensed insurers in obtaining basic property insurance; and\n\n4. To provide for the equitable distribution among licensed insurers of the\nresponsibility for insuring qualified property for which basic property\ninsurance cannot be obtained through the voluntary insurance market.\n\nHISTORY: 1968, c. 559, \u00a7 38.1-746; 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}}