{"data":{"id":"us-va/va.-code-38.2-2529","jurisdiction":"us-va","citation":"Va. Code § 38.2-2529","heading":"Unearned premium reserves required","body":"A. Advance assessments received by mutual assessment property and casualty insurers shall be considered premiums and, except as provided in subsection B of this section, shall be subject to the requirement of an unearned premium reserve computed in accordance with § 38.2-1312. The reserves may be reduced for applicable reinsurance in accordance with the provisions of Article 3.1 (§ 38.2-1316.1 et seq.) of Chapter 13 of this title.B. The amount each insurer shall maintain in reserves for unearned premium reserves shall be as follows:1. For calendar year 1987, at least ten percent of the unearned premium reserve as calculated in subsection A of this section; and2. For each subsequent year, at least an additional ten percent as calculated in subsection A for that subsequent year in order that the full amount of unearned premium reserves shall be established by December 31, 1996.1986, c. 562; 1994, c. 316.","path":["Title 38.2. INSURANCE","Chapter 25. MUTUAL ASSESSMENT PROPERTY AND CASUALTY INSURERS","Article 5. FINANCIAL PROVISIONS"],"source_url":"https://law.lis.virginia.gov/vacode/38.2-2529/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:16:05Z","sha256":"9c0bddcebdd126529bc438143790678897e170c97ce5e149f7e6de2f7947e7d8","source_id":"us-va","stale":true,"prev":"us-va/va.-code-38.2-2528","next":"us-va/va.-code-38.2-2600"},"notice":"GroundRules: Original legal text. Not legal advice."}