{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-406.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-406.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-406.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-406.html"}],"law_id":69572,"edition_id":1,"section_id":69572,"structure_id":15198,"section_number":"38.2-406","catch_line":"Report of gross premium income","history":"Code 1950, \u00a7 38-21; 1952, c. 317, \u00a7 38.1-48; 1977, c. 317; 1978, c. 4; 1986, c. 562; 2003, c. 371; 2012, c. 584.","full_text":"Each company subject to assessment under this chapter shall, on or before March 1 of each year, report under oath to the Commission, upon forms to be furnished or approved by, and in such detail as may be prescribed by, the Commission, the direct gross premium income derived from its business in this Commonwealth during the preceding year ending December 31. Every company failing to file the assessment report on or before March 1 shall be subject to a penalty of $50 for each day after the report is due. If such failure is due to providential or other good cause shown to the satisfaction of the Commission, such report may be accepted exclusive of penalties.","order_by":null,"text":{"0":{"id":251542,"text":"Each company subject to assessment under this chapter shall, on or before March 1 of each year, report under oath to the Commission, upon forms to be furnished or approved by, and in such detail as may be prescribed by, the Commission, the direct gross premium income derived from its business in this Commonwealth during the preceding year ending December 31. Every company failing to file the assessment report on or before March 1 shall be subject to a penalty of $50 for each day after the report is due. If such failure is due to providential or other good cause shown to the satisfaction of the Commission, such report may be accepted exclusive of penalties.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-406\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 6 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 1952, chapter 317; in 1977, chapter 317; in 1978, chapter 4; in 1986, chapter 562; in 2003, chapter 371<\/a>; in 2012, chapter 584<\/a>.<\/p>","references":[{"id":55432,"section_number":"38.2-1857.4:1","catch_line":"Renewal application and fee; reinstatement; waiver","order_by":null,"url":"\/38.2-1857.4_1\/"},{"id":77505,"section_number":"38.2-402","catch_line":"Definitions","order_by":null,"url":"\/38.2-402\/"},{"id":65701,"section_number":"38.2-4809.1","catch_line":"Licensees to pay assessments on insurers","order_by":null,"url":"\/38.2-4809.1\/"}],"refers_to":false,"permalink":{"id":216373,"object_type":"law","relational_id":69572,"identifier":"38.2-406","token":"38.2\/4\/38.2-406","url":"\/38.2-406\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-406\/","token":"38.2\/4\/38.2-406","dublin_core":{"Title":"Report of gross premium income","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-406","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Each company<\/span> subject to assessment under this chapter shall, on or before March 1 of each year, report under oath<\/span> to the Commission<\/span>, upon forms to be furnished or approved by, and in such detail as may be prescribed by, the Commission<\/span>, the direct gross premium income<\/span> derived from its business in this Commonwealth during the preceding year ending December 31. Every company<\/span> failing to file the assessment report on or before March 1 shall be subject to a penalty<\/span> of $50 for each day after the report is due. If such failure is due to providential or other good cause shown to the satisfaction of the Commission<\/span>, such report may be accepted exclusive of penalties.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREPORT OF GROSS PREMIUM INCOME (\u00a7 38.2-406)\n\nEach company subject to assessment under this chapter shall, on or before March\n1 of each year, report under oath to the Commission, upon forms to be furnished\nor approved by, and in such detail as may be prescribed by, the Commission, the\ndirect gross premium income derived from its business in this Commonwealth\nduring the preceding year ending December 31. Every company failing to file the\nassessment report on or before March 1 shall be subject to a penalty of $50 for\neach day after the report is due. If such failure is due to providential or\nother good cause shown to the satisfaction of the Commission, such report may be\naccepted exclusive of penalties.\n\nHISTORY: Code 1950, \u00a7 38-21; 1952, c. 317, \u00a7 38.1-48; 1977, c. 317; 1978, c.\n4; 1986, c. 562; 2003, c. 371; 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}}