State Codes and Statutes
Statutes > Virginia > Title-38-2 > Chapter-59 > 38-2-5903§ 38.2-5903. Assessment to fund appeals.
A. Each licensed insurer writing insurance as defined in § 38.2-109 and thatis subject to subsection B of § 38.2-5801, each health maintenanceorganization organized in accordance with the provisions of Chapter 43 (§38.2-4300 et seq.), and each nonstock corporation organized in accordancewith the provisions of Chapter 42 (§ 38.2-4200 et seq.) or Chapter 45 (§38.2-4500 et seq.) and that is subject to subsection B of § 38.2-5801 shallpay, in addition to any other assessments provided in this title, anassessment in an amount not to exceed 0.015 percent of the direct grosspremium income for such insurance written during the preceding calendar year.The assessment shall be apportioned and assessed and paid as prescribed by §38.2-403.
B. The assessments made by the Commission under subsection A and paid intothe state treasury shall be deposited to a special fund designated "Bureauof Insurance Special Fund-State Corporation Commission," and out of suchspecial fund and the unexpended balance thereof shall be appropriated thesums necessary for the regulation, supervision and examination of allentities subject to regulation under this title.
(1999, cc. 643, 649; 2001, c. 276.)
