Chap. 601.—An ACT to require fire insurance companies doing business in this
state to refund to policy-holders a certain proportion of the premiums paid in
certain cases.

Approved March 1, 1848.

1. Be it enacted by the general assembly of Virginia, That in all cases
where policies of insurance have been issued or are hereafter issued by
fire Insurance companies doing business in this state contain a provision
or provisions providing that in case of loss by fire or otherwise less
than the amount stated on the face of the policy upon which the pre-
miium is paid or only a certain proportion of the value of the property
at the time of the loss, shall be paid under the provisions of said policy,
and the amount ascertained to be due, in accordance with the provisions
of the policy after the loss occurs, shall be less than the amount upon
which the premium was paid, it shall be the duty of the company that
issued said policy to refund to, and said company is hereby required to
refund to the policy-holder or holders the premium paid on the amount
which constitutes the difference between the amount stated in the policy
upon which the premium was paid and the amount paid thereunder,
with interest thereon from the time of payment of such premium. But
this act shall not apply to cases in which there is a partial loss by fire
and the policy is continued in force as to the residue of the amount
named in the policy.

2. When several policies are issued by different companies on the same
property the amount of premiuin required to be refunded under this act
shall be apportioned and may be recovered from the several companies
in proportion to the several amounts of said policies.

od. The amounts required to be refunded by fire insurance companies
under this act may be recovered by the policy-holder or holders in the
same manner and by the same proceedings as are now provided by law
for the recovery of the amount ascertained to be due under the policy.

4. Any provision which may be inserted in a policy, or in any condi-
tion attached thereto, by any fire insurance company douing business in
this state, forthe purpose of providing against the enforcement of the
provisions of this act shall be void.

5. The provisions of this act shall not apply to a purely mutual fire
insurance company or association organized and doing business In any
county or city, or counties or cities in this state and paying its losses
solely from assessments upon its members.

6. This act shall be in force from its passsave.