                                 CODE OF VIRGINIA

DISTRIBUTION TO INSURERS; RECORDS OF LOSS EXPERIENCE AS PREREQUISITE TO PAYMENT
(§ 38.2-3001)

The Commission shall distribute moneys annually from the Fund among the several
insurers writing motor vehicle bodily injury and property damage liability
insurance on motor vehicles registered in this Commonwealth. Moneys shall be
distributed in the proportion that each insurer&#8217;s reported written car
years bear to the total number of written car years reported for the preceding
year by all insurers in this Commonwealth who have elected to participate in the
distribution of the Fund. For purposes of this section, &#8220;written car
years&#8221; means the number of motor vehicles insured by policies providing
uninsured motorist coverage as required by subsection A of § 38.2-2206 during a
twelve-month period. Only insurers that maintain records satisfactory to the
Commission shall receive any payment from the Fund.

HISTORY: Code 1950, § 12-66; 1958, c. 455, § 38.1-379.2; 1962, c. 253; 1971,
Ex. Sess., c. 44; 1986, c. 562; 2002, c. 145.