State Codes and Statutes
Statutes > Virginia > Title-38-2 > Chapter-12 > 38-2-1201§ 38.2-1201. Definitions.
A. As used in this title:
"Reciprocal" means the aggregation of subscribers under a common name.
"Reciprocal insurance" means insurance resulting from the mutual exchangeof insurance contracts among persons in an unincorporated association under acommon name through an attorney-in-fact having authority to obligate eachperson both as insured and insurer.
B. As used in this chapter:
"Attorney" means the person designated and authorized by subscribers as theattorney-in-fact having authority to obligate them on reciprocal insurancecontracts.
"Subscriber" means a person obligated under a reciprocal insuranceagreement.
(1952, c. 317, § 38.1-689; 1986, c. 562.)
