reglab/housing_qa huggingface dataset:
VA Code § 38.2-3722 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 37.1 - Credit Life Insurance and Credit Accident and Sickness Insurance|§ 38.2-3722. Variable interest rate indebtedness; amount; disclosure; refunds

A. Notwithstanding the terms of § 38.2-3720, if the credit transaction provides for a variable interest rate and the insurance premiums are calculated and charged on a single premium basis, the initial amount of insurance coverage shall not exceed the scheduled amounts of unpaid indebtedness based upon the initial contract interest rate; and the death benefit shall be equal to the scheduled amount of insurance at the date of death or the amount required to liquidate the indebtedness in accordance with the terms of the contract of indebtedness, whichever is greater. If the actual interest rate charged at any time exceeds the original contract interest rate, the term of the insurance shall continue without additional charge for a period not to exceed three months. No additional premiums shall be charged for any additional coverage provided beyond that included in the single premium charge.B. Each individual policy or group certificate of credit insurance issued in connection with credit transactions involving variable interest rates shall include a disclosure (i) that the death benefit shall in no case be less than the insured scheduled amount of coverage or the amount required to liquidate the insured indebtedness in accordance with the terms of the contract of indebtedness, whichever is greater; and (ii) that the term of insurance shall continue for a period not to exceed three months if the actual interest rate charge at any time exceeds the original contract interest rate.C. Each individual policy or group certificate of credit insurance issued in connection with credit transactions involving variable interest rates shall provide that in the event of termination of the insurance prior to the original scheduled maturity date of the indebtedness, a refund of any amount paid by the debtor for such insurance shall be made in accordance with § 38.2-3729. Such refund shall be based on the terms of the original loan and the actual elapsed time.For a loan with a term of more than sixty-one months, computation of such refund using the actuarial method shall be deemed to comply with the requirements hereof. For a loan with a term of sixty-one months or less, computation of such refund using the Rule of 78 shall be deemed to comply with the requirement hereof.1984, c. 664, § 38.1-482.4:2; 1985, c. 234, § 38.2-3705; 1986, c. 562; 1992, c. 586.
VA Code § 38.2-3728 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 37.1 - Credit Life Insurance and Credit Accident and Sickness Insurance|§ 38.2-3728. Use of rates

A. Use of prima facie rates. An insurer that files rates or has rates on file that are not in excess of the prima facie rates set forth in § 38.2-3726 or published as set forth in § 38.2-3727, to the extent adjusted pursuant to § 38.2-3730, may use those rates without further proof of their reasonableness.B. Use of rates higher than prima facie rates. An insurer may file for approval of and use rates that are higher than the prima facie rates set forth in § 38.2-3726 or published as set forth in § 38.2-3727, to the extent adjusted by § 38.2-3730. In order to use these higher rates, it shall be demonstrated to the satisfaction of the Commission that the use of such higher rates will result in a ratio of claims incurred to premiums earned (assuming the use of such higher rates) that is not less than the loss ratios as required by § 38.2-3725 D and E for those accounts to which such higher rates apply and that such upward deviations will not result on a statewide basis for that insurer of a ratio of claims incurred to premiums earned of less than the expected loss ratio underlying the current prima facie rate developed or adjusted pursuant to § 38.2-3730. Deviations effective for 1993 and 1994 for credit life insurance shall be derived based upon a fifty percent loss ratio.If rates higher than the prima facie rates provided for in §§ 38.2-3726 and 38.2-3727, to the extent adjusted pursuant to § 38.2-3730, are filed for approval, the filing shall specify the account or accounts to which such rates apply. Such rates may be applied on an equitable basis approved by the Commission to only one or more accounts specified by the insurer for which the experience has been less favorable than expected.C. Approval period of deviated rates.1. A deviated rate will be in effect for a period of time not longer than the experience period used to establish such rate. In no event will deviated rates remain in effect after the effective date that new prima facie rates are effective as set forth in § 38.2-3730.2. Notwithstanding subsection A of this section, the prima facie rates shall be employed in the event that the account becomes insured by another insurer.D. As used in this section:1. "Experience" means "earned premiums" and "incurred claims" during the experience period.2. "Experience period" means the most recent period of time for which experience is reported, but not for a period longer than three full years.3. "Incurred claims" means total claims paid during the experience period, adjusted for the change in claim reserve.1992, c. 586.
VA Code § 38.2-3730 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 37.1 - Credit Life Insurance and Credit Accident and Sickness Insurance|§ 38.2-3730. Experience reports and adjustment of prima facie rates

A. Each insurer doing insurance business in this Commonwealth shall annually file with the National Association of Insurance Commissioners a report of credit life and credit accident and sickness written on a calendar year basis. Such report shall utilize the Credit Insurance Supplement-Annual Statement Blank as then approved by the National Association of Insurance Commissioners. Such filing shall be made in accordance with and no later than the due date in the Instructions in the Annual Statement.B. The Commission shall, on a triennial basis, publish notice and conduct a hearing to determine the actual loss ratio for each form of insurance and adjust the prima facie rates, as provided in §§ 38.2-3726 and 38.2-3727, by applying the ratio of the actual loss ratio to the loss ratio standard set forth in § 38.2-3725 to the prima facie rates. The Commission shall, after such hearing, publish the adjusted actual statewide prima facie rates to be used by insurers during the next triennium. As set forth in this section, the following formula shall be used to adjust the prima facie rates:  Actual Loss RatioPFRX---------------------  Loss Ratio StandardWhere PFR is the prima facie rate as provided in §§ 38.2-3726 and 38.2-3727, the Actual Loss Ratio is the ratio of the incurred claims to the earned premiums at prima facie rates for all companies for the preceding three years as reported in the Annual Statement Supplements and the Loss Ratio Standard is the loss ratio provided in § 38.2-3725.C. In the event that three years of experience is not available using prima facie rates published by the Commission, the Commission may adjust prima facie rates using the number of years of experience available at prima facie rates previously published by the Commission.1992, c. 586; 2015, c. 11.
VA Code § 38.2-3731 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 37.1 - Credit Life Insurance and Credit Accident and Sickness Insurance|§ 38.2-3731. Claims

A. All claims shall be promptly reported to the insurer or its designated claim representative. The insurer shall maintain adequate claim files. All claims shall be settled as soon as possible and in accordance with the terms of the insurance contract.B. All claims shall be paid or credited by: (i) electronic means to the account of the claimant to whom payment of the claim is due pursuant to the policy provisions or to an account or person specified by such claimant; or (ii) draft drawn upon the insurer or by check of the insurer to the order of the claimant to whom payment of the claim is due pursuant to the policy provisions, or to a person specified by such claimant.C. No plan or arrangement shall be used where any person other than the insurer or its designated claim representative shall be authorized to settle or adjust claims. The creditor shall not be designated as claim representative for the insurer in adjusting claims. A group policyholder may, by arrangement with the insurer, draw drafts or checks, or credit by electronic means in payment of claims due to the group policyholder subject to audit and review by the insurer. The insurer shall periodically review claims payments made on its behalf by claim representatives or group policyholders.1960, c. 67, § 38.1-482.11; 1982, c. 223, § 38.2-3713; 1986, c. 562; 1992, c. 586.
VA Code § 38.2-3732 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 37.1 - Credit Life Insurance and Credit Accident and Sickness Insurance|§ 38.2-3732. Insurer delegation of duties

Any insurer that delegates to a creditor any of its duties under the laws of this Commonwealth or the regulations of this Commission shall be responsible to see that such creditor discharges such duties in accordance with said laws and regulations. A finding by the Commission that either the insurer or its delegee has failed to comply with such requirements shall subject the insurer and creditor to any and all disciplinary actions authorized under this title. Such responsibility shall include but not be limited to a determination that:1. Proper insurance rates are being charged by the creditor;2. Proper refunds are being made;3. Claims are being filed and properly handled;4. Amounts of insurance payable on death in excess of the amounts necessary to discharge indebtedness are properly distributed; and5. The creditor is promptly and fairly processing complaints concerning its credit insurance operations and is maintaining proper procedures for and records of complaints processed.1992, c. 586.
VA Code § 38.2-3733 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 37.1 - Credit Life Insurance and Credit Accident and Sickness Insurance|§ 38.2-3733. Portion of premium may be allowed to creditor; insurance may be provided and serviced at creditor's place of business

A. A portion of the premium for credit life insurance or credit accident and sickness insurance may be allowed by the insurer to a creditor for providing and servicing such insurance. Such portion of the premium so allowed shall not be deemed as a rebate of premium or as interest charges or consideration or an amount in excess of permitted charges in connection with the loan or other credit transaction.B. All of the acts necessary to provide and service credit life insurance and credit accident and sickness insurance may be performed within the same place of business in which is transacted the business giving rise to the loan or other credit transaction.1960, c. 67, § 38.1-482.9; 1982, c. 223, § 38.2-3712; 1986, c. 562; 1992, c. 586.
VA Code § 38.2-3734 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 37.1 - Credit Life Insurance and Credit Accident and Sickness Insurance|§ 38.2-3734. License requirements

Any person who, in this Commonwealth, on behalf of an insurer licensed in this Commonwealth, sells, solicits, or negotiates individual or group policies of credit life insurance shall first apply for and obtain a license from the Commission as either a life and annuities insurance agent or as a limited lines credit insurance agent as defined in § 38.2-1800. Any person who, in this Commonwealth, on behalf of an insurer licensed in this Commonwealth, sells, solicits, or negotiates individual or group policies of credit accident and sickness insurance, shall first apply for and obtain a license from the Commission as either a health agent or as a limited lines credit insurance agent as defined in § 38.2-1800 of this title, and shall be required to be appointed to represent such insurer in this Commonwealth as set forth in § 38.2-1833.1992, c. 586; 2001, c. 706.
VA Code § 38.2-3736 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 37.1 - Credit Life Insurance and Credit Accident and Sickness Insurance|§ 38.2-3736. Noncontributory coverage

If no specific charge is made to the debtor for credit life or credit accident and sickness insurance, the Commission is granted discretion in applying the provisions of this chapter. Each company must comply with § 38.2-3725 and the filing letter must specifically request an exemption from Virginia law. For purposes of this section, it will be considered that the debtor is charged a specific amount for insurance if an identifiable charge for insurance is disclosed in the credit or other instrument furnished the debtor which sets out the financial elements of the credit transactions, or if there is a differential in finance, interest, service or other similar charges made to debtors who are in like circumstances, except for their insured or noninsured status.1992, c. 586.
VA Code § 38.2-3738 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 37.1 - Credit Life Insurance and Credit Accident and Sickness Insurance|§ 38.2-3738. What laws applicable

In the event of conflict between the provisions of this chapter and other provisions of this title, the provisions of this chapter shall be controlling. Subdivisions 1 and 2 of § 38.2-508 shall not apply to the insurance subject to the provisions of this chapter where application of these subdivisions would conflict with the requirements of any federal agency.1960, c. 67, § 38.1-482.1; 1972, c. 527, § 38.2-3716; 1982, c. 223; 1986, c. 562; 1992, c. 586.
VA Code § 38.2-3800 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3800. Scope of chapter

This chapter applies to cooperative nonprofit life benefit companies as defined in § 38.2-3801 and to the classes of insurance and insurance benefits those companies are authorized to provide.1952, c. 317, § 38.1-496; 1986, c. 562.
VA Code § 38.2-3801 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3801. Cooperative nonprofit life benefit company defined

A. Any company that (i) is organized without capital stock, (ii) has a representative form of government, (iii) conducts its business under the provisions of this chapter without profit and for the sole benefit of its members and their beneficiaries, (iv) issues benefit certificates or policies of life insurance, annuities, or accident and sickness insurance, or any combination of those classes of insurance, upon its members, and (v) maintains the reserves required in this chapter on all contracts issued by it to its members, shall be a cooperative nonprofit life benefit company.B. As used in this chapter, "company" means a cooperative nonprofit life benefit company as defined in subsection A of this section.Code 1950, § 38-467; 1952, c. 317, § 38.1-497; 1986, c. 562.
VA Code § 38.2-3802 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3802. Continuation of existing companies

Any company licensed and doing business in this Commonwealth on July 1, 1952, may continue to do business in accordance with the powers contained in its certificate of incorporation, subject to the provisions of this chapter, but no such company shall be permitted to extend its powers.1952, c. 317, § 38.1-498; 1986, c. 562.
VA Code § 38.2-3803 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3803. Licensing of additional companies prohibited

Any company that was not licensed and doing business in this Commonwealth on July 1, 1952, shall not be issued a license to do the business of insurance in this Commonwealth. On or after July 1, 1952, only a renewal of a license held by the company for the preceding year will be issued.1952, c. 317, § 38.1-499; 1986, c. 562.
VA Code § 38.2-3804 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3804. What laws applicable

All companies shall comply with all of the provisions of this title relating to insurance companies generally. In the event of conflict between the provisions of this chapter and other provisions of this title, the provisions of this chapter shall be controlling.1952, c. 317, § 38.1-502; 1986, c. 562.
VA Code § 38.2-3805 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3805. General powers of company; limitation on increase in rates

Each company shall make a constitution, laws or bylaws for its government, the admission of its members, the management of its affairs and the fixing and readjustment of the rates of contribution of its members. It may change, add to, or amend the constitution, laws or bylaws and shall have the other powers necessary and incidental to effect the objects and purposes of the company. It may make refunds to its members from any surplus funds of the company, but it may only increase rates or make extra assessments against members whose contracts include provisions for rate increases and extra assessments.Code 1950, § 38-478; 1952, c. 317, § 38.1-503; 1986, c. 562.
VA Code § 38.2-3806 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3806. Constitution and bylaws

Each company shall provide in its constitution, laws or bylaws for:1. A representative form of government for the management of the company, to be carried on either with or without a lodge, or with membership in the lodge optional;2. A legislative or governing body composed of its officers and representatives to be elected either by the adult members or by delegates elected directly or indirectly by the adult members; and3. The manner of selecting representatives of the members for membership in its legislative body.Code 1950, § 38-479; 1952, c. 317, § 38.1-504; 1986, c. 562.
VA Code § 38.2-3807 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3807. Governing body; board of directors

The governing body of each company shall meet at least once every four years. Meetings of the governing body may be held in any state where the company is authorized to do business. The members of the governing body shall not vote by proxy.A board of directors to conduct the business of the company shall be elected by the governing body for a period of not more than four years or until the next quadrennial meeting of the body. The board of directors shall elect the officers to conduct the business of the company under its direction. No officer shall be elected for a period beyond that for which the board of directors has been elected.Code 1950, § 38-480; 1952, c. 317, § 38.1-505; 1986, c. 562.
VA Code § 38.2-3808 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3808. Filing copies of constitution and bylaws

Each company shall file with the Commission a duly certified copy of its constitution, laws or bylaws and all amendments or additions. Printed copies of the constitution, laws or bylaws, certified by the secretary or corresponding officer of the company, shall be prima facie evidence of their legal adoption and filing.Code 1950, § 38-481; 1952, c. 317, § 38.1-506; 1986, c. 562.
VA Code § 38.2-3809 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3809. How a company may become legal reserve life insurer

Any company filing with the Commission a resolution of its board of directors or similar body, or of its legislative body, making a request to become a legal reserve life insurer, upon submitting proof satisfactory to the Commission that the request is properly authorized and that the condition of its business qualifies it under the laws of this Commonwealth to be classed as a legal reserve life insurer, shall become a legal reserve life insurer under the name and the plan provided by proper amendment of its charter or certificate of incorporation.Code 1950, § 38-477; 1952, c. 317, § 38.1-507; 1986, c. 562.
VA Code § 38.2-3810 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3810. Institutions maintainable; company a charitable institution

Any company may maintain homes for aged members, or children's homes, hospitals or recreational centers, or any other charitable institution, and may provide for the erection of monuments or memorials to deceased members. Such a company is hereby classified as a charitable institution.Code 1950, § 38-482; 1952, c. 317, § 38.1-508; 1986, c. 562.
VA Code § 38.2-3811 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3811. Benefits not subject to process

Any money, other benefit, charity, relief or aid to be paid, provided or rendered by any company shall not be liable to attachment, garnishment or other process, or be seized, taken, appropriated or applied by any legal or equitable process or operation of law to pay any debt or liability of a member, his beneficiary, or any other person who may have a right thereunder, either before or after payment.Code 1950, § 38-493; 1952, c. 317, § 38.1-510; 1986, c. 562.
VA Code § 38.2-3812 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3812. Tax on gross premium receipts

The officers of each company shall, at the time of making the annual statement, file with the Commission a sworn statement of its gross premium receipts collected from members residing in this Commonwealth for the preceding year ending December 31. Each company shall pay into the state treasury by March 1 of each year, a tax of one percent on its collected gross premiums. The tax shall be in lieu of all other taxes, state, county or municipal, based on such gross premium receipts. No city, town, municipality or other subdivision of the Commonwealth shall impose any license fee on the company or any of its agents for the privilege of conducting business in any portion of this Commonwealth. In determining such gross premium receipts, the company shall not take credit for any expenditures.Code 1950, § 38-494; 1952, c. 317, § 38.1-511; 1986, c. 562; 1987, cc. 565, 655.
VA Code § 38.2-3813 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3813. Suits against company

A suit or an action at law may be instituted against any company in any county or city in this Commonwealth.Code 1950, § 38-495; 1950, p. 242; 1952, c. 317, § 38.1-512; 1986, c. 562.
VA Code § 38.2-3814 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3814. Contracts in writing; fees

All contracts of any company for insurance or other benefits shall be in writing. No company or any of its officers or agents shall include in the sum charged a member, any fee, compensation, or other charge. However, a local medical examiner's fee and a policy fee on accident and sickness contracts may be charged.Code 1950, § 38-484; 1952, c. 317, § 38.1-514; 1986, c. 562.
VA Code § 38.2-3815 (2021)
2021 Code of Virginia|Title 38.2 - Insurance|Chapter 38 - Cooperative Nonprofit Life Benefit Companies|§ 38.2-3815. What benefits policies may provide

Any company may provide for (i) stipulated premiums, (ii) death, annuity, endowment and disability benefits, and (iii) cash surrender and loan values to an amount not exceeding the reserve, or its equivalent, in paid-up or extended term insurance, based upon the mortality standards set forth in this chapter.Code 1950, § 38-483; 1952, c. 317, § 38.1-515; 1986, c. 562.