Virginia Code 38.2-1215: Reserves.
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Each reciprocal shall maintain the same unearned premium and loss or claim reserves required for stock and mutual companies writing the same classes of insurance.
Terms Used In Virginia Code 38.2-1215
- Reciprocal: means the aggregation of subscribers under a common name. See Virginia Code 38.2-1201
Code 1950, §§ 38-558, 38-559; 1952, c. 317, § 38.1-705; 1986, c. 562.