Code of Virginia

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Code of Virginia
Title 38.2. Insurance
Chapter 2. Provisions of a General Nature

§ 38.2-215. Liability of president, chief executive officer or directors if insurance issued when insurer insolvent.

If any insurer is insolvent, and the president, chief executive officer or directors with knowledge of insolvency make or agree to further insurance, they shall be personally liable for any loss under that insurance.

Code 1950, § 38-176; 1952, c. 317, § 38.1-37; 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.