Code of Virginia § 38.2-1201. Definitions.
97 words·~1 min read·
/va/title-38-2/chapter-12/38-2-1201A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. As used in this title:
"Reciprocal" means the aggregation of subscribers under a common name.
"Reciprocal insurance" means insurance resulting from the mutual exchange of insurance contracts among persons in an unincorporated association under a common name through an attorney-in-fact having authority to obligate each person both as insured and insurer.
B. As used in this chapter:
"Attorney" means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal insurance contracts.
"Subscriber" means a person obligated under a reciprocal insurance agreement.
1952, c. 317, § 38.1-689; 1986, c. 562.