2015 Code of Virginia
Title 38.2 - Insurance
§ 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 exchange of insurance contracts among persons in an unincorporated association under a common name through an attorney-in-fact having authority to obligate each person both as insured and insurer.
B. As used in this chapter:
"Attorney" means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal insurance contracts.
"Subscriber" means a person obligated under a reciprocal insurance agreement.
1952, c. 317, ยง 38.1-689; 1986, c. 562.
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