Va. Code § 38.2-1228

Current with changes from the 2024 legislative session through ch. 845
Section 38.2-1228 - Subscribers' share in assets

Upon the liquidation of a domestic reciprocal, the assets remaining after discharge of its (i) indebtedness and policy obligations, (ii) the return of any contributions of the attorney or other person made as provided in § 38.2-1225, and (iii) the return of any unused deposits, savings or credits, shall be distributed. The distribution shall be according to a formula approved by the Commission or the court to the persons who were its subscribers within the twelve months prior to the final termination of its license.

Va. Code § 38.2-1228

1952, c. 317, § 38.1-717; 1986, c. 562.
Amended by Acts 1986, § c. 562.
Amended by Acts 1952, § c. 317, § 38.1-717.