                                 CODE OF VIRGINIA

PREMIUM PAYMENT ARREARAGES; ORDER OF CREDITING PAYMENTS (§ 38.2-3407.3:1)

Each (i) insurer proposing to issue individual or group accident and sickness
insurance policies providing hospital, medical and surgical or major medical
coverage on an expense-incurred basis, (ii) corporation providing individual or
group accident and sickness subscription contracts, and (iii) health maintenance
organization providing a health care plan for health care services, shall when
accepting premium payments in arrears, credit any such payments first to the
longest-outstanding arrearage, and then in succession to the most recent
arrearage or payment due.

HISTORY: 1999, c. 321.