Statutes > Virginia Statutes > Title 38.2 - INSURANCE. > Chapter 4 - Assessment for Administration of Insurance Laws and Declarations of Estimated Assessments by Insure... (38.2-400 thru 38.2-415) > 38.2-412 - Companies going out of business.

38.2-412 - Companies going out of business.

§ 38.2-412. Companies going out of business.

If a company goes out of business or ceases to be a company in thisCommonwealth in any assessable or license year, the company shall remainliable for the payment of the assessment measured by direct gross premiumincome for the period in which it operated as a company and received orderived direct gross premium income from business in this Commonwealth.

(1977, c. 317, § 38.1-48.7; 1986, c. 562.)