Code of Virginia § 38.2-215. Liability of president, chief executive officer or directors if insurance issued when insurer insolvent.
46 words·~1 min read·
/va/title-38-2/chapter-2/38-2-215·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If any insurer is insolvent, and the president, chief executive officer or directors with knowledge of insolvency make or agree to further insurance, they shall be personally liable for any loss under that insurance.
Code 1950, § 38-176; 1952, c. 317, § 38.1-37; 1986, c. 562.