Virginia Code 38.2-1214: Savings returned to subscribers.
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A reciprocal may return to its subscribers any savings or credits accruing to their accounts. Any such distribution shall not unfairly discriminate between classes of risks or policies, or between subscribers. However, the distribution may vary for classes of subscribers based upon the experience of those classes.
Terms Used In Virginia Code 38.2-1214
- Reciprocal: means the aggregation of subscribers under a common name. See Virginia Code 38.2-1201
1952, c. 317, § 38.1-704; 1986, c. 562.