<?xml version="1.0"?>
<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>79668</law_id><section_number>38.2-2520</section_number><catch_line>Right to limit assessment liability</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="38.2">Insurance</unit><unit label="chapter" level="2" order_by="1" identifier="25">Mutual Assessment Property and Casualty Insurers</unit><unit label="article" level="3" order_by="1" identifier="4">Insurance Transactions</unit></structure><text>
						<section><p>Any <span class="dictionary">mutual assessment property and casualty insurer</span> having a <span class="dictionary">surplus to policyholders</span> equal to at least 3 times the average annual losses and expenses of the insurer during the last 5-year period or a <span class="dictionary">surplus to policyholders</span> of at least $800,000 may limit the assessment liability of members. The liability of members for assessment may be limited during any one year to an amount not less than one additional current annual assessment.</p></section></text><history>1952, c. 317, &#xA7; 38.1-683.1; 1986, c. 562.</history><metadata></metadata></law>
