Code of Virginia § 46.2-2146. Effect of unfair claims settlement practices on self-insured motor carriers.
109 words·~1 min read·
/va/title-46-2/chapter-21/46-2-2146A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The provisions of subdivisions 4, 6, 11 and 12 of subsection A of § 38.2-510 shall apply to each holder of a certificate of fitness or permit issued by and under the authority of the Department who, in lieu of filing an insurance policy, has deposited with the State Treasurer state, federal or municipal bonds or has filed an unconditional letter of credit issued by a bank. The failure of any such holder of a certificate or permit to comply with the provisions of § 38.2-510 shall be the cause for revocation or suspension of the certificate or permit.
2001, c. 596 ; 2011, cc. 881 , 889 .