                                 CODE OF VIRGINIA

PURPOSES OF CHAPTER (§ 38.2-2700)

The purposes of this chapter are:

1. To assure stability in the property insurance market of this Commonwealth;

2. To assure the availability of basic property insurance for qualified
property;

3. To encourage maximum use of the voluntary insurance market provided by
licensed insurers in obtaining basic property insurance; and

4. To provide for the equitable distribution among licensed insurers of the
responsibility for insuring qualified property for which basic property
insurance cannot be obtained through the voluntary insurance market.

HISTORY: 1968, c. 559, § 38.1-746; 1986, c. 562.