Virginia Administrative Code
Title 14 - INSURANCE
Agency 5 - STATE CORPORATION COMMISSION, BUREAU OF INSURANCE
Chapter 360 - RULES GOVERNING LOCAL GOVERNMENT GROUP SELF-INSURANCE POOLS
Section 14VAC5-360-130 - Handling of pool deficit
Universal Citation: 4 VA Admin Code 5-360-130
Current through Register Vol. 41, No. 3, September 23, 2024
If a group self-insurance pool is in a deficit condition, the pool shall promptly file with the commission a financial plan to correct the deficit condition. If the plan is found to be unacceptable by the commission and written notice, thereof, is given to the governing authority of the pool, delinquency proceedings may be commenced and conducted by the commission in accordance with the provisions of Chapter 15 (§ 38.2-1500 et seq.) of Title 38.2 of the Code of Virginia.
Statutory Authority
§§ 12.1-13 and 38.2-223 of the Code of Virginia.
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