Terms Used In Virginia Code > Title 38.2 > Chapter 16 > Article 2 - Additional Funds Paid to Association.

• Account: means any one of the three accounts created by § Virginia Code 38.2-1603
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means the Virginia Property and Casualty Insurance Guaranty Association created under § Virginia Code 38.2-1603
• Commission: means the State Corporation Commission. See Virginia Code 38.2-100
• Control: means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, unless the power is the result of an official position with or corporate office held by the person. See Virginia Code 38.2-1603
• Fiduciary: A trustee, executor, or administrator.
• Net direct written premiums: means direct gross premiums written in the Commonwealth on insurance policies applicable to this chapter, less return premiums and dividends paid or credited to policyholders on direct business. See Virginia Code 38.2-1603
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• rates: means any rate of premium, policy fee, membership fee or any other charge made by an insurer for or in connection with a contract or policy of insurance. See Virginia Code 38.2-100
• State: means any commonwealth, state, territory, district or insular possession of the United States. See Virginia Code 38.2-100