{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-3915.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-3915.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-3915.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-3915.html"}],"law_id":67815,"edition_id":1,"section_id":67815,"structure_id":15739,"section_number":"38.2-3915","catch_line":"Assessment contract","history":"1985, c. 400, \u00a7 38.1-549.16; 1986, c. 562.","full_text":"Contracts issued by a mutual assessment life, accident and sickness insurer shall be on forms prescribed by the insurer and shall be substantially uniform among members of the respective classes of insurance written by the insurer. Each member shall pay his pro rata share of all losses or damages sustained, expenses of operations of the insurer, and the maintenance of an adequate surplus to policyowners as determined by the board of directors. Periodic assessments may be collected as advance premiums, or by past assessments, or by both methods. The amount of assessments shall be established by the board of directors of the insurer. When a contract is subject to assessment, the contingent liability of each member of an insurer shall be clearly stated in the contract. Contracts omitting the right of contingent assessment shall be deemed to be nonassessable.","order_by":null,"text":{"0":{"id":245624,"text":"Contracts issued by a mutual assessment life, accident and sickness insurer shall be on forms prescribed by the insurer and shall be substantially uniform among members of the respective classes of insurance written by the insurer. Each member shall pay his pro rata share of all losses or damages sustained, expenses of operations of the insurer, and the maintenance of an adequate surplus to policyowners as determined by the board of directors. Periodic assessments may be collected as advance premiums, or by past assessments, or by both methods. The amount of assessments shall be established by the board of directors of the insurer. When a contract is subject to assessment, the contingent liability of each member of an insurer shall be clearly stated in the contract. Contracts omitting the right of contingent assessment shall be deemed to be nonassessable.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15739,"edition_id":1,"name":"Insurance Transactions","identifier":"4","label":"article","depth":3,"order_by":1,"parent_id":14069,"metadata":{},"date_created":"2026-06-26 03:58:45","date_modified":"2026-06-26 03:58:45","permalink":{"id":216299,"object_type":"structure","relational_id":15739,"identifier":"4","token":"38.2\/39\/4","url":"\/38.2\/39\/4\/","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":67815,"structure_id":15739,"section_number":"38.2-3915","catch_line":"Assessment contract","url":"\/38.2-3915\/","token":"38.2\/39\/4\/38.2-3915","metadata":false},{"id":73372,"structure_id":15739,"section_number":"38.2-3916","catch_line":"Classification of risks; rates","url":"\/38.2-3916\/","token":"38.2\/39\/4\/38.2-3916","metadata":false},{"id":78014,"structure_id":15739,"section_number":"38.2-3917","catch_line":"Right to limit assessment liability; when contingent assessment liability waived","url":"\/38.2-3917\/","token":"38.2\/39\/4\/38.2-3917","metadata":false},{"id":71008,"structure_id":15739,"section_number":"38.2-3918","catch_line":"Notice of assessment; how given","url":"\/38.2-3918\/","token":"38.2\/39\/4\/38.2-3918","metadata":false},{"id":60457,"structure_id":15739,"section_number":"38.2-3919","catch_line":"Agents' licenses required","url":"\/38.2-3919\/","token":"38.2\/39\/4\/38.2-3919","metadata":false}],"next_section":{"id":73372,"structure_id":15739,"section_number":"38.2-3916","catch_line":"Classification of risks; rates","url":"\/38.2-3916\/","token":"38.2\/39\/4\/38.2-3916","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3915\/","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":false,"permalink":{"id":216301,"object_type":"law","relational_id":67815,"identifier":"38.2-3915","token":"38.2\/39\/4\/38.2-3915","url":"\/38.2-3915\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-3915\/","token":"38.2\/39\/4\/38.2-3915","dublin_core":{"Title":"Assessment contract","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3915","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Contracts<\/span> issued by a mutual assessment life, accident and sickness insurer<\/span> shall be on forms prescribed by the insurer and shall be substantially uniform among members of the respective classes of insurance<\/span> written by the insurer. Each member shall pay his pro rata share of all losses or damages<\/span> sustained, expenses of operations of the insurer, and the maintenance of an adequate surplus to policyowners as determined by the board of directors. Periodic assessments may be collected as advance premiums, or by past assessments, or by both methods. The amount of assessments shall be established by the board of directors of the insurer. When a contract<\/span> is subject to assessment, the contingent liability of each member of an insurer shall be clearly stated in the contract<\/span>. Contracts<\/span> omitting the right of contingent assessment shall be deemed to be nonassessable.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nASSESSMENT CONTRACT (\u00a7 38.2-3915)\n\nContracts issued by a mutual assessment life, accident and sickness insurer\nshall be on forms prescribed by the insurer and shall be substantially uniform\namong members of the respective classes of insurance written by the insurer.\nEach member shall pay his pro rata share of all losses or damages sustained,\nexpenses of operations of the insurer, and the maintenance of an adequate\nsurplus to policyowners as determined by the board of directors. Periodic\nassessments may be collected as advance premiums, or by past assessments, or by\nboth methods. The amount of assessments shall be established by the board of\ndirectors of the insurer. When a contract is subject to assessment, the\ncontingent liability of each member of an insurer shall be clearly stated in the\ncontract. Contracts omitting the right of contingent assessment shall be deemed\nto be nonassessable.\n\nHISTORY: 1985, c. 400, \u00a7 38.1-549.16; 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}}