                                 CODE OF VIRGINIA

ADDITIONAL REQUIREMENTS (§ 59.1-591)

A. The board of trustees established pursuant to subsection B of &#xA7; 59.1-590
shall (i) operate any health benefit plans in accordance with the fiduciary
duties defined in ERISA and (ii) have the power to make and collect special
assessments against members and, if any assessment is not timely paid, to
enforce collection of such assessment.

B. Each member shall be liable for his allocated share of the liabilities of the
sponsoring association under a health benefit plan as determined by the board of
trustees.

C. Health benefit plan documents shall have the following statement printed on
the first page in size 14-point boldface type:
			&#8220;This coverage is not insurance and is not offered through an insurance
company. This coverage is not required to comply with certain federal market
requirements for health insurance, nor is it required to comply with certain
state laws for health insurance. Each member shall be liable for his allocated
share of the liabilities of the sponsoring association under the health benefit
plan as determined by the board of trustees. This means that each member may be
responsible for paying an additional sum if the annual premiums present a
deficit of funds for the trust. The trust&#8217;s financial documents shall be
available for public inspection at (insert website of where sponsoring
association trust documents are posted).&#8221;

HISTORY: 2022, cc. 404, 405.