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Current as of January 01, 2025 | Updated by Findlaw Staff
The Virginia Port Authority may purchase group life, accidental death and dismemberment, and disability insurance policies covering in whole or in part its employees who elect to participate in any retirement plan established under the provisions of § 51.1-126.4. In addition, the Authority may increase the coverage under such policies to make available to each active insured employee optional life and accidental death and dismemberment insurance as provided in § 51.1-512. All eligible employees of the Authority shall be covered by the policies purchased by the Authority as soon as such policies become effective and may not elect to be covered by the Board's group insurance program under § 51.1-501, nor shall they be required to present at their own expense evidence of insurability satisfactory to an insurance company upon changing from one form of coverage to another provided by this chapter. No other section of this chapter shall apply to insurance coverage offered by the Authority to which this section applies except §§ 51.1-510 and 51.1-511.
Cite this article: FindLaw.com - Virginia Code Title 51.1. Pensions, Benefits, and Retirement § 51.1-502.3. Certain employees of the Virginia Port Authority - last updated January 01, 2025 | https://codes.findlaw.com/va/title-51-1-pensions-benefits-and-retirement/va-code-sect-51-1-502-3/
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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