                                 CODE OF VIRGINIA

EFFECT OF UNFAIR CLAIMS SETTLEMENT PRACTICES ON SELF-INSURED MOTOR CARRIERS (§
46.2-2056)

The provisions of subdivisions 4, 6, 11, and 12 of subsection A of § 38.2-510
shall apply to each holder of a certificate or permit issued by and under the
authority of the Department who, in lieu of filing an insurance policy, has
deposited with the State Treasurer state, federal or municipal bonds or has
filed an unconditional letter of credit issued by a bank. The failure of any
such holder of a certificate or permit to comply with the provisions of §
38.2-510 shall be the cause for revocation or suspension of the certificate or
permit.

HISTORY: 2001, c. 596.