Va. Code § 38.2-3001

Current with changes from the 2024 legislative session through ch. 845
Section 38.2-3001 - Distribution to insurers; records of loss experience as prerequisite to payment

The Commission shall distribute moneys annually from the Fund among the several insurers writing motor vehicle bodily injury and property damage liability insurance on motor vehicles registered in this Commonwealth. Moneys shall be distributed in the proportion that each insurer's reported written car years bear to the total number of written car years reported for the preceding year by all insurers in this Commonwealth who have elected to participate in the distribution of the Fund. For purposes of this section, "written car years" means the number of motor vehicles insured by policies providing uninsured motorist coverage as required by subsection A of § 38.2-2206 during a twelve-month period. Only insurers that maintain records satisfactory to the Commission shall receive any payment from the Fund.

Va. Code § 38.2-3001

Code 1950, § 12-66; 1958, c. 455, § 38.1-379.2; 1962, c. 253; 1971, Ex. Sess., c. 44; 1986, c. 562; 2002, c. 145.
Amended by Acts 2002, § c. 145.
Amended by Acts 1986, § c.562.
Amended by Acts 1971, § Ex. Sess., c. 44.
Amended by Acts 1962, § c. 253.
Amended by Acts 1958, § c. 455, § 38.1-379.2.