§ 15.2-2700. Declaration of policy, findings and purpose

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Code of Virginia
Title 15.2. Counties, Cities and Towns
Chapter 27. Local Government Group Self-Insurance Pools

11/5/2024

§ 15.2-2700. Declaration of policy, findings and purpose.

The General Assembly hereby finds and determines that insurance protection is essential to the proper functioning of political subdivisions; that the resources of political subdivisions are burdened by the high cost of and frequent inability to secure such protection through standard carriers; that proper risk management requires the spreading of risk so as to minimize fluctuation in insurance needs; and that, therefore, all contributions of financial and administrative resources made by a political subdivision pursuant to an intergovernmental contract as authorized by this chapter are made for a public and governmental purpose, and that such contributions benefit each contributing political subdivision.

1986, cc. 520, 556, § 15.1-503.4:1; 1997, c. 587.