{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-4609.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-4609.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-4609.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-4609.html"}],"law_id":79630,"edition_id":1,"section_id":79630,"structure_id":13850,"section_number":"38.2-4609","catch_line":"Loss or claim reserves","history":"1952, c. 317, \u00a7 38.1-729; 1986, c. 562; 1990, c. 334.","full_text":"Each title insurance company licensed in this Commonwealth shall maintain loss and loss adjustment expense reserves in an amount estimated in the aggregate as being sufficient to provide for the payment of all unpaid losses and claims under title insurance contracts of which the company has received written notice from or on behalf of the insured.","order_by":null,"text":{"0":{"id":285341,"text":"Each title insurance company licensed in this Commonwealth shall maintain loss and loss adjustment expense reserves in an amount estimated in the aggregate as being sufficient to provide for the payment of all unpaid losses and claims under title insurance contracts of which the company has received written notice from or on behalf of the insured.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13850,"edition_id":1,"name":"Title Insurance","identifier":"46","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:46:04","date_modified":"2026-06-26 03:46:04","permalink":{"id":217153,"object_type":"structure","relational_id":13850,"identifier":"46","token":"38.2\/46","url":"\/38.2\/46\/","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":60163,"structure_id":13850,"section_number":"38.2-4600","catch_line":"Class of insurance and insurance companies to which chapter applies","url":"\/38.2-4600\/","token":"38.2\/46\/38.2-4600","metadata":false},{"id":61532,"structure_id":13850,"section_number":"38.2-4601","catch_line":"Title insurance company defined","url":"\/38.2-4601\/","token":"38.2\/46\/38.2-4601","metadata":false},{"id":65120,"structure_id":13850,"section_number":"38.2-4601.1","catch_line":"Title insurance agency or agent defined","url":"\/38.2-4601.1\/","token":"38.2\/46\/38.2-4601.1","metadata":false},{"id":73355,"structure_id":13850,"section_number":"38.2-4602","catch_line":"What laws applicable","url":"\/38.2-4602\/","token":"38.2\/46\/38.2-4602","metadata":false},{"id":55288,"structure_id":13850,"section_number":"38.2-4603","catch_line":"What companies may transact title insurance","url":"\/38.2-4603\/","token":"38.2\/46\/38.2-4603","metadata":false},{"id":67063,"structure_id":13850,"section_number":"38.2-4604","catch_line":"Investment in plant and equipment","url":"\/38.2-4604\/","token":"38.2\/46\/38.2-4604","metadata":false},{"id":54872,"structure_id":13850,"section_number":"38.2-4605","catch_line":"Interim binders","url":"\/38.2-4605\/","token":"38.2\/46\/38.2-4605","metadata":false},{"id":79727,"structure_id":13850,"section_number":"38.2-4606","catch_line":"Forms to be filed with Commission","url":"\/38.2-4606\/","token":"38.2\/46\/38.2-4606","metadata":false},{"id":60596,"structure_id":13850,"section_number":"38.2-4607","catch_line":"Maximum risk","url":"\/38.2-4607\/","token":"38.2\/46\/38.2-4607","metadata":false},{"id":74319,"structure_id":13850,"section_number":"38.2-4608","catch_line":"Title insurance rates","url":"\/38.2-4608\/","token":"38.2\/46\/38.2-4608","metadata":false},{"id":79630,"structure_id":13850,"section_number":"38.2-4609","catch_line":"Loss or claim reserves","url":"\/38.2-4609\/","token":"38.2\/46\/38.2-4609","metadata":false},{"id":60467,"structure_id":13850,"section_number":"38.2-4610","catch_line":"Repealed","url":"\/38.2-4610\/","token":"38.2\/46\/38.2-4610","metadata":false},{"id":80196,"structure_id":13850,"section_number":"38.2-4610.1","catch_line":"Unearned premium reserve","url":"\/38.2-4610.1\/","token":"38.2\/46\/38.2-4610.1","metadata":false},{"id":59674,"structure_id":13850,"section_number":"38.2-4610.1:1","catch_line":"Unearned premium reserves of foreign title insurance companies","url":"\/38.2-4610.1_1\/","token":"38.2\/46\/38.2-4610.1_1","metadata":false},{"id":60470,"structure_id":13850,"section_number":"38.2-4610.2","catch_line":"Loss reserves","url":"\/38.2-4610.2\/","token":"38.2\/46\/38.2-4610.2","metadata":false},{"id":56376,"structure_id":13850,"section_number":"38.2-4611","catch_line":"Repealed","url":"\/38.2-4611\/","token":"38.2\/46\/38.2-4611","metadata":false},{"id":77761,"structure_id":13850,"section_number":"38.2-4613","catch_line":"Unearned premium reserve to be held and administered for benefit of policyholders","url":"\/38.2-4613\/","token":"38.2\/46\/38.2-4613","metadata":false},{"id":78129,"structure_id":13850,"section_number":"38.2-4614","catch_line":"Prohibition against payment or receipt of title insurance kickbacks, rebates, commissions and other payments; penalty","url":"\/38.2-4614\/","token":"38.2\/46\/38.2-4614","metadata":false},{"id":85851,"structure_id":13850,"section_number":"38.2-4615","catch_line":"Exchange of information","url":"\/38.2-4615\/","token":"38.2\/46\/38.2-4615","metadata":false},{"id":57124,"structure_id":13850,"section_number":"38.2-4616","catch_line":"Notification to buyers of the availability of owner's title insurance","url":"\/38.2-4616\/","token":"38.2\/46\/38.2-4616","metadata":false}],"previous_section":{"id":74319,"structure_id":13850,"section_number":"38.2-4608","catch_line":"Title insurance rates","url":"\/38.2-4608\/","token":"38.2\/46\/38.2-4608","metadata":false},"next_section":{"id":60467,"structure_id":13850,"section_number":"38.2-4610","catch_line":"Repealed","url":"\/38.2-4610\/","token":"38.2\/46\/38.2-4610","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-4609\/","history_text":"<p>This law was first created in 1952. 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 1952 \u201cActs\u201d aren\u2019t available online. It has been modified 2 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 1986, chapter 562; in 1990, chapter 334.<\/p>","references":[{"id":58606,"section_number":"38.2-1314","catch_line":"Loss or claim reserves","order_by":null,"url":"\/38.2-1314\/"},{"id":80624,"section_number":"38.2-1316.1","catch_line":"Definitions","order_by":null,"url":"\/38.2-1316.1\/"},{"id":60470,"section_number":"38.2-4610.2","catch_line":"Loss reserves","order_by":null,"url":"\/38.2-4610.2\/"}],"refers_to":false,"permalink":{"id":217195,"object_type":"law","relational_id":79630,"identifier":"38.2-4609","token":"38.2\/46\/38.2-4609","url":"\/38.2-4609\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-4609\/","token":"38.2\/46\/38.2-4609","dublin_core":{"Title":"Loss or claim reserves","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-4609","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Each title <span class=\"dictionary\">insurance company<\/span> licensed in this Commonwealth shall maintain loss and loss adjustment expense reserves in an amount estimated in the aggregate as being sufficient to provide for the payment of all unpaid losses and claims under title <span class=\"dictionary\">insurance contracts<\/span> of which the company has received written notice from or on behalf of the insured.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nLOSS OR CLAIM RESERVES (\u00a7 38.2-4609)\n\nEach title insurance company licensed in this Commonwealth shall maintain loss\nand loss adjustment expense reserves in an amount estimated in the aggregate as\nbeing sufficient to provide for the payment of all unpaid losses and claims\nunder title insurance contracts of which the company has received written notice\nfrom or on behalf of the insured.\n\nHISTORY: 1952, c. 317, \u00a7 38.1-729; 1986, c. 562; 1990, c. 334.","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}}