Virginia Code

Va. Code Ann. § 38.2-1604 (2026)

Association created; members; divided into three accounts

✓ current as of May 2026

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The nonprofit unincorporated legal entity known as the Virginia Property and Casualty Insurance Guaranty Association, created by former § 38.1-761, shall continue in existence. All insurers defined as "member insurers" under § 38.2-1603 shall be and remain members of the Association as a condition of their license to transact the business of insurance in this Commonwealth. The Association shall perform its functions under a plan of operation established and approved under § 38.2-1607 and shall exercise its powers through a board of directors established under § 38.2-1605. For purposes of administration and assessment, the Association shall have three separate accounts: (i) the workers' compensation insurance account; (ii) the automobile insurance account; and (iii) the account for all other insurance to which this chapter applies. These accounts shall be in addition to and separate from the safety fund authorized by § 38.2-1619.

1970, c. 766, § 38.1-761; 1986, c. 562; 1998, c. 230.

Notes of Decisions

Cited in 2 cases (1 in the last 5 years), 1986–2025 · leading case: Int'l Ins. v. Virginia Ins. Guar. Ass'n, 649 F. Supp. 58 (E.D. Va. 1986).

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Int'l Ins. v. Virginia Ins. Guar. Ass'n, 649 F. Supp. 58 (E.D. Va. 1986). · cites it 3× “The citizenship of an unincorporated association, as is Guaranty, see Va.Code § 38.2-1604, is considered to be that of each member.”

Three H Coal Co., Inc. v. DOWCP (4th Cir. 2025). “2016); see Va. Code Ann. § 38.2-1604 (providing that “member insurers” must “remain members of the Association as a condition of their license to transact the business of insurance in this Commonwealth”).”

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