Code of Virginia § 38.2-4609. Loss or claim reserves.
67 words·~1 min read·
/va/title-38-2/chapter-46/38-2-4609A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Each title insurance company licensed in this Commonwealth shall maintain loss and loss adjustment expense reserves in an amount estimated in the aggregate as being sufficient to provide for the payment of all unpaid losses and claims under title insurance contracts of which the company has received written notice from or on behalf of the insured.
1952, c. 317, § 38.1-729; 1986, c. 562; 1990, c. 334.