                                 CODE OF VIRGINIA

PURPOSE (§ 38.2-1600)

The purpose of this chapter is to establish an association that shall provide
prompt payment of covered claims to reduce financial loss to claimants or
policyholders resulting from the insolvency of an insurer. This association
shall assist in the detection and prevention of insurer insolvencies and shall
apportion the cost of this protection among insurers.

HISTORY: 1970, c. 766, § 38.1-757; 1986, c. 562.