{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-401.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-401.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-401.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-401.1.html"}],"law_id":64176,"edition_id":1,"section_id":64176,"structure_id":15198,"section_number":"38.2-401.1","catch_line":"Dam Safety, Flood Prevention and Protection Assistance Fund assessment","history":"1990, c. 916; 2006, cc. 648, 765.","full_text":"The Commission shall annually assess against all licensed insurance companies doing business in this Commonwealth by writing any type of flood insurance an assessment in the amount of one percent of the total direct gross premium income for such insurance. Such assessment shall be apportioned, assessed, and paid as prescribed by \u00a7 38.2-403. In any year in which a company has no direct gross premium income from flood insurance or in which its direct gross premium income from flood insurance is insufficient to produce at the rate of assessment prescribed by law an amount equal to or in excess of $100, there shall be so apportioned and assessed against such company a contribution of $100. One hundred percent of the total amount collected annually pursuant to this section shall be paid into the Dam Safety, Flood Prevention and Protection Assistance Fund established per \u00a7 10.1-603.17. The assessment established by this section shall not apply to premium income for policies written pursuant to the National Flood Insurance Act of 1968 or for policies providing comprehensive motor vehicle insurance coverage.","order_by":null,"text":{"0":{"id":233627,"text":"The Commission shall annually assess against all licensed insurance companies doing business in this Commonwealth by writing any type of flood insurance an assessment in the amount of one percent of the total direct gross premium income for such insurance. Such assessment shall be apportioned, assessed, and paid as prescribed by \u00a7 38.2-403. In any year in which a company has no direct gross premium income from flood insurance or in which its direct gross premium income from flood insurance is insufficient to produce at the rate of assessment prescribed by law an amount equal to or in excess of $100, there shall be so apportioned and assessed against such company a contribution of $100. One hundred percent of the total amount collected annually pursuant to this section shall be paid into the Dam Safety, Flood Prevention and Protection Assistance Fund established per \u00a7 10.1-603.17. The assessment established by this section shall not apply to premium income for policies written pursuant to the National Flood Insurance Act of 1968 or for policies providing comprehensive motor vehicle insurance coverage.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15198,"edition_id":1,"name":"Assessment for Administration of Insurance Laws and Declarations of Estimated Assessments by Insurers","identifier":"4","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:52:54","date_modified":"2026-06-26 03:52:54","permalink":{"id":216339,"object_type":"structure","relational_id":15198,"identifier":"4","token":"38.2\/4","url":"\/38.2\/4\/","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":57860,"structure_id":15198,"section_number":"38.2-400","catch_line":"Expense of administration of insurance laws borne by licensees; minimum contribution","url":"\/38.2-400\/","token":"38.2\/4\/38.2-400","metadata":false},{"id":76092,"structure_id":15198,"section_number":"38.2-401","catch_line":"(Effective July 1, 2026) Fire Programs Fund","url":"\/38.2-401\/","token":"38.2\/4\/38.2-401","metadata":false},{"id":64176,"structure_id":15198,"section_number":"38.2-401.1","catch_line":"Dam Safety, Flood Prevention and Protection Assistance Fund assessment","url":"\/38.2-401.1\/","token":"38.2\/4\/38.2-401.1","metadata":false},{"id":77505,"structure_id":15198,"section_number":"38.2-402","catch_line":"Definitions","url":"\/38.2-402\/","token":"38.2\/4\/38.2-402","metadata":false},{"id":65532,"structure_id":15198,"section_number":"38.2-403","catch_line":"Assessment for expenses","url":"\/38.2-403\/","token":"38.2\/4\/38.2-403","metadata":false},{"id":75388,"structure_id":15198,"section_number":"38.2-403.1","catch_line":"Omitted assessments","url":"\/38.2-403.1\/","token":"38.2\/4\/38.2-403.1","metadata":false},{"id":59580,"structure_id":15198,"section_number":"38.2-404","catch_line":"Recovery of such assessments; revocation or suspension of license","url":"\/38.2-404\/","token":"38.2\/4\/38.2-404","metadata":false},{"id":73951,"structure_id":15198,"section_number":"38.2-405","catch_line":"Application for correction of assessment","url":"\/38.2-405\/","token":"38.2\/4\/38.2-405","metadata":false},{"id":69572,"structure_id":15198,"section_number":"38.2-406","catch_line":"Report of gross premium income","url":"\/38.2-406\/","token":"38.2\/4\/38.2-406","metadata":false},{"id":76137,"structure_id":15198,"section_number":"38.2-407","catch_line":"Repealed","url":"\/38.2-407\/","token":"38.2\/4\/38.2-407","metadata":false},{"id":79634,"structure_id":15198,"section_number":"38.2-412","catch_line":"Companies going out of business","url":"\/38.2-412\/","token":"38.2\/4\/38.2-412","metadata":false},{"id":80377,"structure_id":15198,"section_number":"38.2-413","catch_line":"Double assessment respecting same direct gross premium income negated","url":"\/38.2-413\/","token":"38.2\/4\/38.2-413","metadata":false},{"id":66062,"structure_id":15198,"section_number":"38.2-414","catch_line":"Assessments to fund program to reduce losses from motor vehicle thefts","url":"\/38.2-414\/","token":"38.2\/4\/38.2-414","metadata":false},{"id":61655,"structure_id":15198,"section_number":"38.2-415","catch_line":"Assessment to fund program to reduce losses from insurance fraud","url":"\/38.2-415\/","token":"38.2\/4\/38.2-415","metadata":false}],"previous_section":{"id":76092,"structure_id":15198,"section_number":"38.2-401","catch_line":"(Effective July 1, 2026) Fire Programs Fund","url":"\/38.2-401\/","token":"38.2\/4\/38.2-401","metadata":false},"next_section":{"id":77505,"structure_id":15198,"section_number":"38.2-402","catch_line":"Definitions","url":"\/38.2-402\/","token":"38.2\/4\/38.2-402","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-401.1\/","history_text":"

This law was first created in 1990. The record of its establishment is cataloged in chapter 916 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 1990 \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 2006, chapters 648<\/a> and 765<\/a>.<\/p>","references":[{"id":81027,"section_number":"10.1-603.17","catch_line":"Dam Safety, Flood Prevention and Protection Assistance Fund established","order_by":null,"url":"\/10.1-603.17\/"},{"id":87222,"section_number":"58.1-2508","catch_line":"Taxes applicable to insurance companies","order_by":null,"url":"\/58.1-2508\/"}],"refers_to":[{"id":81027,"section_number":"10.1-603.17","catch_line":"Dam Safety, Flood Prevention and Protection Assistance Fund established","order_by":null,"url":"\/10.1-603.17\/"},{"id":65532,"section_number":"38.2-403","catch_line":"Assessment for expenses","order_by":null,"url":"\/38.2-403\/"}],"permalink":{"id":216349,"object_type":"law","relational_id":64176,"identifier":"38.2-401.1","token":"38.2\/4\/38.2-401.1","url":"\/38.2-401.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-401.1\/","token":"38.2\/4\/38.2-401.1","dublin_core":{"Title":"Dam Safety, Flood Prevention and Protection Assistance Fund assessment","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-401.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The Commission<\/span> shall annually assess against all licensed insurance<\/span> companies doing business in this Commonwealth by writing any type of flood insurance<\/span> an assessment in the amount of one percent of the total direct gross premium income<\/span> for such insurance<\/span>. Such assessment shall be apportioned, assessed, and paid as prescribed by \u00a7 38.2-403<\/a>. In any year in which a company<\/span> has no direct gross premium income<\/span> from flood insurance<\/span> or in which its direct gross premium income<\/span> from flood insurance<\/span> is insufficient to produce at the rate<\/span> of assessment prescribed by law<\/span> an amount equal to or in excess of $100, there shall be so apportioned and assessed against such company<\/span> a contribution of $100. One hundred percent of the total amount collected annually pursuant to this section shall be paid into the Dam Safety, Flood Prevention and Protection Assistance Fund established per \u00a7 10.1-603.17<\/a>. The assessment established by this section shall not apply to premium income for policies written pursuant to the National Flood Insurance<\/span> Act of 1968 or for policies providing comprehensive motor vehicle insurance<\/span> coverage.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDAM SAFETY, FLOOD PREVENTION AND PROTECTION ASSISTANCE FUND ASSESSMENT (\u00a7\n38.2-401.1)\n\nThe Commission shall annually assess against all licensed insurance companies\ndoing business in this Commonwealth by writing any type of flood insurance an\nassessment in the amount of one percent of the total direct gross premium income\nfor such insurance. Such assessment shall be apportioned, assessed, and paid as\nprescribed by \u00a7 38.2-403. In any year in which a company has no direct gross\npremium income from flood insurance or in which its direct gross premium income\nfrom flood insurance is insufficient to produce at the rate of assessment\nprescribed by law an amount equal to or in excess of $100, there shall be so\napportioned and assessed against such company a contribution of $100. One\nhundred percent of the total amount collected annually pursuant to this section\nshall be paid into the Dam Safety, Flood Prevention and Protection Assistance\nFund established per \u00a7 10.1-603.17. The assessment established by this section\nshall not apply to premium income for policies written pursuant to the National\nFlood Insurance Act of 1968 or for policies providing comprehensive motor\nvehicle insurance coverage.\n\nHISTORY: 1990, c. 916; 2006, cc. 648, 765.","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}}