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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>361239</law_id><section_number>38.2-1207</section_number><catch_line>Exceptions as to reciprocals licensed and operating</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="88" identifier="38.2">Insurance</unit><unit label="chapter" level="2" order_by="12" identifier="12">Reciprocal Insurance</unit><unit label="article" level="3" order_by="1" identifier="1">General Provisions</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> Notwithstanding other provisions of this chapter regarding minimum required surplus, any reciprocal that was licensed to write and was writing any class of <span class="dictionary">insurance</span> in this Commonwealth on June 30, 1991, may continue to write that class of <span class="dictionary">insurance</span> under the appropriate license from the <span class="dictionary">Commission</span> until July 1, 1994. The reciprocal shall maintain at all times the minimum surplus, and the minimum trusteed surplus if an alien reciprocal, required on June 30, 1991. <a id="paragraph-1344144" class="section-permalink" href="https://vacode.org/38.2-1207/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> Before any reciprocal obtains a license to write in this Commonwealth any class of <span class="dictionary">insurance</span> that it was not writing and licensed to write in this Commonwealth on June 30, 1991, it shall comply with all the requirements of this article regarding surplus. <a id="paragraph-1344145" class="section-permalink" href="https://vacode.org/38.2-1207/#B"><i class="fa fa-link"/></a></p></section></text><history>1977, c. 322, &#xA7; 38.1-695.1; 1986, c. 562; 1991, c. 261.</history><metadata></metadata></law>
