HB951: Mutual assessment property and casualty insurers; notice by electronic delivery.


VIRGINIA ACTS OF ASSEMBLY -- CHAPTER
An Act to amend and reenact § 38.2-2521 of the Code of Virginia, relating to mutual assessment property and casualty insurers; notice by electronic delivery.
[H 951]
Approved

 

Be it enacted by the General Assembly of Virginia:

1. That § 38.2-2521 of the Code of Virginia is amended and reenacted as follows:

§ 38.2-2521. Notice of assessment; how given.

After an assessment is made, the insurer shall give every member subject to the assessment written notice stating the amount of the member's assessment and the date when payment is due. Except where the provisions of the bylaws or the policy provide otherwise, the time of payment shall be at least thirty days and no more than sixty days from the service of the notice. That notice may be served personally or, by mail, or by electronic delivery pursuant to § 38.2-325. If mailed, the notice shall be deposited with the United States Postal Service and addressed to the member at his residence or place of business as shown on the company records.

HOUSE BILL NO. 951

Offered January 8, 2020
Prefiled January 7, 2020
A BILL to amend and reenact § 38.2-2521 of the Code of Virginia, relating to mutual assessment property and casualty insurers; notice by electronic delivery.
Patron-- Ransone

Committee Referral Pending

Be it enacted by the General Assembly of Virginia:

1. That § 38.2-2521 of the Code of Virginia is amended and reenacted as follows:

§ 38.2-2521. Notice of assessment; how given.

After an assessment is made, the insurer shall give every member subject to the assessment written notice stating the amount of the member's assessment and the date when payment is due. Except where the provisions of the bylaws or the policy provide otherwise, the time of payment shall be at least thirty days and no more than sixty days from the service of the notice. That notice may be served personally or, by mail, or by electronic delivery pursuant to § 38.2-325. If mailed, the notice shall be deposited with the United States Postal Service and addressed to the member at his residence or place of business as shown on the company records.