                                 CODE OF VIRGINIA

CONTINGENT LIABILITY PROVISIONS IN POLICIES ISSUED BY CERTAIN MUTUAL INSURERS
(§ 38.2-308)

Except in the case of nonassessable policies, the contingent liability of each
member of a mutual insurer, other than a life insurer, shall be clearly stated
in the mutual insurer&#8217;s policies. The contingent liability may be limited,
but such limitation shall not be less than one additional annual premium on each
policy held by the member.

HISTORY: Code 1950, § 38-508; 1952, c. 317, § 38.1-335.1; 1986, c. 562.