{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-2709.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-2709.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-2709.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-2709.html"}],"law_id":81180,"edition_id":1,"section_id":81180,"structure_id":13727,"section_number":"38.2-2709","catch_line":"Ceding basic property insurance to association; participation of members; governing body","history":"1968, c. 559, \u00a7 38.1-751; 1982, c. 665; 1986, c. 562.","full_text":"A\n\nAny member of the joint underwriting association may cede to the association basic property insurance written on qualified property, to the extent and on the terms and conditions set forth in the plan of operation.B\n\nAll members of the joint underwriting association shall participate in its writings, expenses, profits and losses, or in any categories thereof that may be separately established by the joint underwriting association, in the proportion that the net direct premiums written by each member during the preceding calendar year bear to the aggregate net direct premiums written in this Commonwealth by all members of the joint underwriting association during the preceding calendar year, but excluding (i) premiums on property used for manufacturing purposes, and (ii) that portion of premiums attributable to the operation of the joint underwriting association.C\n\nThe joint underwriting association shall be governed by a board of fifteen directors. Four directors shall be appointed by the Commissioner, two of whom shall be property and casualty insurance agents and two of whom shall be from the general public. The remaining eleven directors shall be elected annually by a cumulative vote of the joint underwriting association’s members, whose votes shall be weighted in accordance with each member’s premiums written during the preceding calendar year. The first board shall be elected at a meeting of the members or their authorized representatives, which shall be held within thirty days after approval of the plan of operation as provided in § 38.2-2708.","order_by":null,"text":{"0":{"id":290980,"text":"Any member of the joint underwriting association may cede to the association basic property insurance written on qualified property, to the extent and on the terms and conditions set forth in the plan of operation.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":290981,"text":"All members of the joint underwriting association shall participate in its writings, expenses, profits and losses, or in any categories thereof that may be separately established by the joint underwriting association, in the proportion that the net direct premiums written by each member during the preceding calendar year bear to the aggregate net direct premiums written in this Commonwealth by all members of the joint underwriting association during the preceding calendar year, but excluding (i) premiums on property used for manufacturing purposes, and (ii) that portion of premiums attributable to the operation of the joint underwriting association.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":290982,"text":"The joint underwriting association shall be governed by a board of fifteen directors. Four directors shall be appointed by the Commissioner, two of whom shall be property and casualty insurance agents and two of whom shall be from the general public. The remaining eleven directors shall be elected annually by a cumulative vote of the joint underwriting association’s members, whose votes shall be weighted in accordance with each member’s premiums written during the preceding calendar year. The first board shall be elected at a meeting of the members or their authorized representatives, which shall be held within thirty days after approval of the plan of operation as provided in § 38.2-2708.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"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}],"previous_section":{"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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-2709\/","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 2 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 665; in 1986, chapter 562.<\/p>","references":[{"id":58816,"section_number":"38.2-2707","catch_line":"When Commission may order implementation of \u00a7\u00a7 38.2-2708 and 38.2-2709","order_by":null,"url":"\/38.2-2707\/"}],"refers_to":[{"id":85005,"section_number":"38.2-2708","catch_line":"Creation and plan of operation of joint underwriting association","order_by":null,"url":"\/38.2-2708\/"}],"permalink":{"id":214059,"object_type":"law","relational_id":81180,"identifier":"38.2-2709","token":"38.2\/27\/38.2-2709","url":"\/38.2-2709\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-2709\/","token":"38.2\/27\/38.2-2709","dublin_core":{"Title":"Ceding basic property insurance to association; participation of members; governing body","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-2709","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Any member of the joint underwriting association may cede to the association basic property insurance<\/span> written on qualified property<\/span>, to the extent and on the terms and conditions set forth in the plan of operation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> All members of the joint underwriting association shall participate in its writings, expenses, profits and losses, or in any categories thereof that may be separately established by the joint underwriting association, in the proportion that the net direct premiums written<\/span> by each member during the preceding calendar year bear to the aggregate net direct premiums written<\/span> in this Commonwealth by all members of the joint underwriting association during the preceding calendar year, but excluding (i) premiums on property used for manufacturing purposes, and (ii) that portion of premiums attributable to the operation of the joint underwriting association. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The joint underwriting association shall be governed by a board of fifteen directors. Four directors shall be appointed by the Commissioner<\/span>, two of whom shall be property and casualty insurance agents and two of whom shall be from the general public. The remaining eleven directors shall be elected annually by a cumulative vote of the joint underwriting association’s members, whose votes shall be weighted in accordance with each member’s premiums written during the preceding calendar year. The first board shall be elected at a meeting of the members or their authorized representatives, which shall be held within thirty days after approval of the plan of operation as provided in § 38.2-2708<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCEDING BASIC PROPERTY INSURANCE TO ASSOCIATION; PARTICIPATION OF MEMBERS;\nGOVERNING BODY (\u00a7 38.2-2709)\n\nA. Any member of the joint underwriting association may cede to the association\nbasic property insurance written on qualified property, to the extent and on the\nterms and conditions set forth in the plan of operation.\n\nB. All members of the joint underwriting association shall participate in its\nwritings, expenses, profits and losses, or in any categories thereof that may be\nseparately established by the joint underwriting association, in the proportion\nthat the net direct premiums written by each member during the preceding\ncalendar year bear to the aggregate net direct premiums written in this\nCommonwealth by all members of the joint underwriting association during the\npreceding calendar year, but excluding (i) premiums on property used for\nmanufacturing purposes, and (ii) that portion of premiums attributable to the\noperation of the joint underwriting association.\n\nC. The joint underwriting association shall be governed by a board of fifteen\ndirectors. Four directors shall be appointed by the Commissioner, two of whom\nshall be property and casualty insurance agents and two of whom shall be from\nthe general public. The remaining eleven directors shall be elected annually by\na cumulative vote of the joint underwriting association’s members, whose\nvotes shall be weighted in accordance with each member’s premiums written\nduring the preceding calendar year. The first board shall be elected at a\nmeeting of the members or their authorized representatives, which shall be held\nwithin thirty days after approval of the plan of operation as provided in §\n38.2-2708.\n\nHISTORY: 1968, c. 559, \u00a7 38.1-751; 1982, c. 665; 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}}