Va. Code § 38.2-3805

Current with changes from the 2024 legislative session through ch. 845

Section 38.2-3805 - General powers of company; limitation on increase in rates

Each company shall make a constitution, laws or bylaws for its government, the admission of its members, the management of its affairs and the fixing and readjustment of the rates of contribution of its members. It may change, add to, or amend the constitution, laws or bylaws and shall have the other powers necessary and incidental to effect the objects and purposes of the company. It may make refunds to its members from any surplus funds of the company, but it may only increase rates or make extra assessments against members whose contracts include provisions for rate increases and extra assessments.

Code 1950, § 38-478; 1952, c. 317, § 38.1-503; 1986, c. 562.

Amended by Acts 1986, § c. 562.

Amended by Acts 1952, § c. 317, § 38.1-503.