                                 CODE OF VIRGINIA

DECLARATION OF POLICY, FINDINGS AND PURPOSE (§ 15.2-2700)

The General Assembly hereby finds and determines that insurance protection is
essential to the proper functioning of political subdivisions; that the
resources of political subdivisions are burdened by the high cost of and
frequent inability to secure such protection through standard carriers; that
proper risk management requires the spreading of risk so as to minimize
fluctuation in insurance needs; and that, therefore, all contributions of
financial and administrative resources made by a political subdivision pursuant
to an intergovernmental contract as authorized by this chapter are made for a
public and governmental purpose, and that such contributions benefit each
contributing political subdivision.

HISTORY: 1986, cc. 520, 556, § 15.1-503.4:1; 1997, c. 587.