Virginia § 38.2-1011 - Disposition of dividends after payments provided in conversion plan
Full text of Virginia Code of Virginia § 38.2-1011 — Disposition of dividends after payments provided in conversion plan, with citation guidance and answers to common questions.
§ 38.2-1011. Disposition of dividends after payments provided in conversion plan
After the payment of stockholder dividends as provided in the plan adopted under § 38.2-1006, and after paying the necessary expenses of executing the trust all dividends and other sums received by the trustees on the shares of acquired stock, shall be immediately repaid to the insurer for the benefit of those who are or may become policyholders of the insurer and entitled to participate in the profits of the insurer. These payments shall be added to and become a part of the earned surplus of the insurer.
Code 1950, § 38-426; 1952, c. 317, § 38.1-495; 1986, c. 562.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 38.2-1011
What does Code of Virginia § 38.2-1011 cover?
Section 38.2-1011 ("Disposition of dividends after payments provided in conversion plan") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 38.2-1011?
A common citation format is "Code of Virginia § 38.2-1011" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 38.2-1011 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.