{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-3901.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-3901.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-3901.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-3901.html"}],"law_id":70247,"edition_id":1,"section_id":70247,"structure_id":14070,"section_number":"38.2-3901","catch_line":"Definitions","history":"1985, c. 400, \u00a7 38.1-549.2; 1986, c. 562.","full_text":"As used in this chapter:\n\t\t“Mutual assessment life, accident and sickness insurance” means life, accident and sickness insurance and annuities provided by an insurer which has a right to assess its members for contributions and which is licensed under this chapter.\n\t\t“Mutual assessment life, accident and sickness insurer” means a nonstock corporation that provides life, accident or sickness insurance or annuity contracts for which the following provisions are applicable:\n\n1\n\nAll benefits payable to beneficiaries are mainly provided for by (i) assessments upon members made when needed by the insurer, or (ii) advance premiums paid at fixed dates, with the right reserved by the insurer to make additional assessments; or2\n\nIf definite periodic premiums are used without the right to make additional assessments, premiums must be sufficient to pay average claims in accordance with standards applicable to insurers licensed pursuant to Chapter 10 (§ 38.2-1000 et seq.) of this title.","order_by":null,"text":{"0":{"id":253663,"text":"As used in this chapter:\n\t\t“Mutual assessment life, accident and sickness insurance” means life, accident and sickness insurance and annuities provided by an insurer which has a right to assess its members for contributions and which is licensed under this chapter.\n\t\t“Mutual assessment life, accident and sickness insurer” means a nonstock corporation that provides life, accident or sickness insurance or annuity contracts for which the following provisions are applicable:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":253664,"text":"All benefits payable to beneficiaries are mainly provided for by (i) assessments upon members made when needed by the insurer, or (ii) advance premiums paid at fixed dates, with the right reserved by the insurer to make additional assessments; or","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":253665,"text":"If definite periodic premiums are used without the right to make additional assessments, premiums must be sufficient to pay average claims in accordance with standards applicable to insurers licensed pursuant to Chapter 10 (§ 38.2-1000 et seq.) of this title.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1"}},"ancestry":[{"id":14070,"edition_id":1,"name":"General Provisions","identifier":"1","label":"article","depth":3,"order_by":1,"parent_id":14069,"metadata":{},"date_created":"2026-06-26 03:46:47","date_modified":"2026-06-26 03:46:47","permalink":{"id":216233,"object_type":"structure","relational_id":14070,"identifier":"1","token":"38.2\/39\/1","url":"\/38.2\/39\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14069,"edition_id":1,"name":"Mutual Assessment Life, Accident and Sickness Insurers","identifier":"39","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:46:47","date_modified":"2026-06-26 03:46:47","permalink":{"id":216231,"object_type":"structure","relational_id":14069,"identifier":"39","token":"38.2\/39","url":"\/38.2\/39\/","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":85422,"structure_id":14070,"section_number":"38.2-3900","catch_line":"Scope of chapter","url":"\/38.2-3900\/","token":"38.2\/39\/1\/38.2-3900","metadata":false},{"id":70247,"structure_id":14070,"section_number":"38.2-3901","catch_line":"Definitions","url":"\/38.2-3901\/","token":"38.2\/39\/1\/38.2-3901","metadata":false},{"id":55183,"structure_id":14070,"section_number":"38.2-3902","catch_line":"Classes of insurance that may be written by mutual assessment life, accident and sickness insurers","url":"\/38.2-3902\/","token":"38.2\/39\/1\/38.2-3902","metadata":false},{"id":59424,"structure_id":14070,"section_number":"38.2-3903","catch_line":"What laws applicable","url":"\/38.2-3903\/","token":"38.2\/39\/1\/38.2-3903","metadata":false},{"id":84007,"structure_id":14070,"section_number":"38.2-3904","catch_line":"Conversion of mutual assessment life, accident and sickness insurers","url":"\/38.2-3904\/","token":"38.2\/39\/1\/38.2-3904","metadata":false}],"previous_section":{"id":85422,"structure_id":14070,"section_number":"38.2-3900","catch_line":"Scope of chapter","url":"\/38.2-3900\/","token":"38.2\/39\/1\/38.2-3900","metadata":false},"next_section":{"id":55183,"structure_id":14070,"section_number":"38.2-3902","catch_line":"Classes of insurance that may be written by mutual assessment life, accident and sickness insurers","url":"\/38.2-3902\/","token":"38.2\/39\/1\/38.2-3902","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3901\/","history_text":"

This law was first created in 1985. The record of its establishment is cataloged in chapter 400 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 1985 \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":58285,"section_number":"38.2-1000","catch_line":"Incorporation of domestic stock insurers","order_by":null,"url":"\/38.2-1000\/"}],"permalink":{"id":216239,"object_type":"law","relational_id":70247,"identifier":"38.2-3901","token":"38.2\/39\/1\/38.2-3901","url":"\/38.2-3901\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-3901\/","token":"38.2\/39\/1\/38.2-3901","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3901","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

As used in this chapter:\n\t\t“Mutual assessment life, accident and sickness insurance<\/span>” means life, accident and sickness insurance and annuities provided by an insurer which has a right to assess its members for contributions and which is licensed under this chapter.\n\t\t“Mutual assessment life, accident and sickness insurer<\/span>” means a nonstock corporation that provides life, accident or sickness insurance or annuity contracts<\/span> for which the following provisions are applicable:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> All benefits payable to beneficiaries are mainly provided for by (i) assessments upon members made when needed by the insurer, or (ii) advance premiums paid at fixed dates, with the right reserved by the insurer to make additional assessments; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> If definite periodic premiums are used without the right to make additional assessments, premiums must be sufficient to pay average claims in accordance with standards applicable to insurers<\/span> licensed pursuant to Chapter 10 (§ 38.2-1000<\/a> et seq.) of this title. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 38.2-3901)\n\nAs used in this chapter:\n\t\t“Mutual assessment life, accident and sickness insurance” means\nlife, accident and sickness insurance and annuities provided by an insurer which\nhas a right to assess its members for contributions and which is licensed under\nthis chapter.\n\t\t“Mutual assessment life, accident and sickness insurer” means a\nnonstock corporation that provides life, accident or sickness insurance or\nannuity contracts for which the following provisions are applicable:\n\n1. All benefits payable to beneficiaries are mainly provided for by (i)\nassessments upon members made when needed by the insurer, or (ii) advance\npremiums paid at fixed dates, with the right reserved by the insurer to make\nadditional assessments; or\n\n2. If definite periodic premiums are used without the right to make additional\nassessments, premiums must be sufficient to pay average claims in accordance\nwith standards applicable to insurers licensed pursuant to Chapter 10 (§\n38.2-1000 et seq.) of this title.\n\nHISTORY: 1985, c. 400, \u00a7 38.1-549.2; 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}}