This chapter shall not be construed to require including any direct gross premium income used previously in calculating the assessment imposed by this chapter for any license year or fraction thereof, and the assessment paid thereon.

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Terms Used In Virginia Code 38.2-413

  • Direct gross premium income: means direct gross premium as defined in § Virginia Code 38.2-402
  • License year: means the 12-month period beginning on July 1 next succeeding the assessable year and ending on June 30 of the subsequent year. See Virginia Code 38.2-402

1977, c. 317, § 38.1-48.9; 1986, c. 562.

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