{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-402.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-402.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-402.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-402.html"}],"law_id":77505,"edition_id":1,"section_id":77505,"structure_id":15198,"section_number":"38.2-402","catch_line":"Definitions","history":"1977, c. 317, \u00a7\u00a7 38.1-48.1, 38.1-48.2; 1978, c. 4; 1986, c. 562; 1996, c. 22; 2012, c. 584.","full_text":"As used in this chapter:\n\t\t“Assessable year” means the calendar year upon which the direct gross premium income is computed under this chapter. In the case of direct gross premium income for a fraction of a calendar year, the term includes the period in which that direct gross premium income is received or derived from business in this Commonwealth.\n\t\t“Direct gross premium income” means direct gross premium as defined in \u00a7 58.1-2500.\n\t\t“License year” means the 12-month period beginning on July 1 next succeeding the assessable year and ending on June 30 of the subsequent year. This shall also be the year in which annual reports of direct gross premium income are required to be filed under \u00a7 38.2-406 and the annual assessment paid under the provisions of this chapter.","order_by":null,"text":{"0":{"id":278034,"text":"As used in this chapter:\n\t\t“Assessable year” means the calendar year upon which the direct gross premium income is computed under this chapter. In the case of direct gross premium income for a fraction of a calendar year, the term includes the period in which that direct gross premium income is received or derived from business in this Commonwealth.\n\t\t“Direct gross premium income” means direct gross premium as defined in \u00a7 58.1-2500.\n\t\t“License year” means the 12-month period beginning on July 1 next succeeding the assessable year and ending on June 30 of the subsequent year. This shall also be the year in which annual reports of direct gross premium income are required to be filed under \u00a7 38.2-406 and the annual assessment paid under the provisions of this chapter.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-402\/","history_text":"

This law was first created in 1977. The record of its establishment is cataloged in chapter 317 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 1977 \u201cActs\u201d aren\u2019t available online. It has been modified 4 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 1978, chapter 4; in 1986, chapter 562; in 1996, chapter 22<\/a>; in 2012, chapter 584<\/a>.<\/p>","references":[{"id":55347,"section_number":"38.2-4214","catch_line":"Application of certain provisions of law","order_by":null,"url":"\/38.2-4214\/"},{"id":67952,"section_number":"38.2-4319","catch_line":"Statutory construction and relationship to other laws","order_by":null,"url":"\/38.2-4319\/"},{"id":60078,"section_number":"38.2-4408","catch_line":"Application of certain provisions","order_by":null,"url":"\/38.2-4408\/"},{"id":62548,"section_number":"38.2-4509","catch_line":"Application of certain laws","order_by":null,"url":"\/38.2-4509\/"}],"refers_to":[{"id":69572,"section_number":"38.2-406","catch_line":"Report of gross premium income","order_by":null,"url":"\/38.2-406\/"},{"id":56221,"section_number":"58.1-2500","catch_line":"Definitions","order_by":null,"url":"\/58.1-2500\/"}],"permalink":{"id":216353,"object_type":"law","relational_id":77505,"identifier":"38.2-402","token":"38.2\/4\/38.2-402","url":"\/38.2-402\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-402\/","token":"38.2\/4\/38.2-402","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-402","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

As used in this chapter:\n\t\t“Assessable year<\/span>” means the calendar year upon which the direct gross premium income<\/span> is computed under this chapter. In the case of direct gross premium income<\/span> for a fraction of a calendar year, the term includes the period in which that direct gross premium income<\/span> is received or derived from business in this Commonwealth.\n\t\t“Direct gross premium income<\/span>” means direct gross premium as defined in \u00a7 58.1-2500<\/a>.\n\t\t“License year<\/span>” means the 12-month period beginning on July 1 next succeeding the assessable year<\/span> and ending on June 30 of the subsequent year. This shall also be the year in which annual reports of direct gross premium income<\/span> are required to be filed under \u00a7 38.2-406<\/a> and the annual assessment paid under the provisions of this chapter.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 38.2-402)\n\nAs used in this chapter:\n\t\t“Assessable year” means the calendar year upon which the direct\ngross premium income is computed under this chapter. In the case of direct gross\npremium income for a fraction of a calendar year, the term includes the period\nin which that direct gross premium income is received or derived from business\nin this Commonwealth.\n\t\t“Direct gross premium income” means direct gross premium as\ndefined in \u00a7 58.1-2500.\n\t\t“License year” means the 12-month period beginning on July 1 next\nsucceeding the assessable year and ending on June 30 of the subsequent year.\nThis shall also be the year in which annual reports of direct gross premium\nincome are required to be filed under \u00a7 38.2-406 and the annual assessment paid\nunder the provisions of this chapter.\n\nHISTORY: 1977, c. 317, \u00a7\u00a7 38.1-48.1, 38.1-48.2; 1978, c. 4; 1986, c. 562;\n1996, c. 22; 2012, c. 584.","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}}