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Virginia Law

Code of Virginia

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Code of Virginia
Title 38.2. Insurance
Chapter 4. Assessment for Administration of Insurance Laws and Declarations of Estimated Assessments by Insurers
7/1/2025

§ 38.2-412. Companies going out of business.

If a company goes out of business or ceases to be a company in this Commonwealth in any assessable or license year, the company shall remain liable for the payment of the assessment measured by direct gross premium income for the period in which it operated as a company and received or derived direct gross premium income from business in this Commonwealth.

1977, c. 317, § 38.1-48.7; 1986, c. 562.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.