The purpose of this chapter is to establish an association that shall provide prompt payment of covered claims to reduce financial loss to claimants or policyholders resulting from the insolvency of an insurer. This association shall assist in the detection and prevention of insurer insolvencies and shall apportion the cost of this protection among insurers.
Va. Code Ann. § 38.2-1600
Purpose
Applied in 6 court decisions — leading case Boyd & Stevenson Coal Co. v. Director, Office of Workers' Compensation Programs (2005)
Most recently applied in RB&F Coal, Inc. v. Mullins (November 2016)
1970, c. 766, § 38.1-757; 1986, c. 562.
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.