Chap. 243.——An ACT to amend, as heretofore amended, and to re-enact Sections 1
and 15 of an act entitled “An act to provide for the organization, maintenance
and supervision of a fire, windstorm, lightning, tornado, hail, and automobile fire
and theft insurance rate making bureau; to provide for the making and filing of
such rates by the bureau, insurance companies and other insurers; whether
stock, mutual, reciprocal or inter-insurer; to generally regulate rate making
agreements; to prohibit discrimination, and to empower the State Corporation
Commission to fix, approve, alter or reduce such rates; providing penalties for
violations, and to repeal all acts and parts of acts in conflict herewith.” ap-
proved March 26, 1928, so as to make certain changes in exceptions and ex-
emptions from the operation of certain provisions of the act. [H B 218]

Approved March 18, 1942

1. Be it enacted by the General Assembly of Virginia, That sections
one and fifteen, as heretofore amended, of an act entitled “An act to pro-
vide for the organization, maintenance and supervision of a fire, wind-
storm, lightning, tornado, hail, and automobile fire and theft insurance
rate making bureau; to provide for the making and filing of such rates
by the bureau, insurance companies and other insurers; whether stock,
mutual, reciprocal or inter-insurer; to generally regulate rate making
agreements, to prohibit discrimination; and to empower the State cor-
poration commission to fix, approve, alter or reduce such rates; provid-
ing penalties for violations ; and to repeal all acts and parts of acts in con-
flict herewith.”, approved March twenty-sixth, nineteen hundred and
twenty-eight, be amended and re-enacted, as follows:

Section 1. Under the supervision of the State Corporation Com-
mission, and within thirty days after this act becomes a law, the fire
instirance companies and other insurers, whether stock, mutual, reciprocal
or inter-insurer, authorized to effect insurance against the risk of loss or
damage by fire, windstorm, tornado, hail, lightning and automobile fire
and theft and all other kinds of insurance which fire insurance companies
are authorized to write in this State, except insurance upon, or in con-
nection with, marine, inland marine, including The Personal Property
Floater (Householder’s Comprehensive) Policy, and transportation risks,
other than fire and theft insurance on automobiles in this State, shall or-
ganize a bureau to be known as the Virginia Insurance Rating Bureau,
tor the purpose of making or adopting rates for insurance against such
hazards, and all such companies and other insurers, except those exempted
under section fifteen hereof, now, or hereafter, authorized to transact
such business in this State, shall be members of such bureau; provided
that, with the approval of the State Corporation Commission, any such
company or other insurer insuring flour mills, grain elevators, lumber
yards, lumber mills, in connection with an inspection service, may file its
rates and schedules, applicable to such risks only, direct with the said
commission, for approval, and not through the said bureau.

Section 15. This act shall not apply to local mutual insurance
companies and associations organized under the laws of this State con-
ducting business only in this State and exclusively upon the assessment
plan, nor to insurance upon or in connection with, marine, inland marine,
including The Personal Property Floater (Householder’s Comprehen-
sive) Policy, and transportation risks, other than fire and theft insur-
ance on automobiles ; and the State Corporation Commission is authorized
to grant exemption from compliance with the terms of this act to mutual
insurance companies and associations organized under the laws of this
State, conducting business only in this State, and issuing only policies
providing for perpetual insurance.