Virginia § 38.2-1900 - Purposes of chapter
Full text of Virginia Code of Virginia § 38.2-1900 — Purposes of chapter, with citation guidance and answers to common questions.
§ 38.2-1900. Purposes of chapter
A. This chapter shall be liberally construed to achieve the purposes stated in subsection B of this section.
B. The purposes of this chapter are to:
1. Protect policyholders and the public against the adverse effects of excessive, inadequate or unfairly discriminatory rates;
2. Encourage independent action by insurers and reasonable price competition among insurers as the most effective way to produce rates that conform to the standards of subdivision 1;
3. Provide formal regulatory controls for use if independent action and price competition fail;
4. Authorize cooperative action among insurers in the rate making process, and regulate such cooperation in order to prevent practices that tend to create monopoly or to lessen or destroy competition;
5. Provide rates that are responsive to competitive market conditions and improve the availability of insurance in this Commonwealth; and
6. Regulate the business of insurance in a manner that will preclude application of federal antitrust laws.
1973, c. 504, § 38.1-279.29; 1986, c. 562.
Frequently Asked Questions About Virginia § 38.2-1900
What does Code of Virginia § 38.2-1900 cover?
Section 38.2-1900 ("Purposes of chapter") 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 § 38.2-1900?
A common citation format is "Code of Virginia § 38.2-1900" (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 § 38.2-1900 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.