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Current as of January 01, 2025 | Updated by Findlaw Staff
The officers or directors of any society who, after due proof of death has been filed, for sixty days refuse or neglect to levy an assessment to pay a claim not disputed by reason of fraud or validity when the death or emergency fund is insufficient to pay the claim, shall be liable to the beneficiary of the certificate. The liability of the officers or directors shall be for a sum not exceeding the face amount of the claim.
Cite this article: FindLaw.com - Virginia Code Title 38.2. Insurance § 38.2-4018. Liability on officers and directors for failing to levy assessments - last updated January 01, 2025 | https://codes.findlaw.com/va/title-38-2-insurance/va-code-sect-38-2-4018/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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