                                 CODE OF VIRGINIA

SUBSCRIBERS&#8217; LIABILITY (§ 38.2-1212)

A. Each subscriber insured under an assessable policy shall have a contingent
assessment liability for payment of actual losses and expenses incurred while
his policy was in force. This shall be in the amount provided for in the power
of attorney or subscriber&#8217;s agreement.

B. The contingent assessment liability on any one policy in any one calendar
year shall equal the premiums earned, as defined in &#xA7; 38.2-1226, on the
policy for that year multiplied by not less than one nor more than ten.

C. The contingent assessment liability shall not be joint, but shall be
individual and several.

D. Each assessable policy issued by the insurer shall plainly set forth a
statement of the contingent assessment liability on the front of the policy in
capital letters in no less than ten point type.

HISTORY: 1952, c. 317, §§ 38.1-702, 38.1-716; 1986, c. 562.