An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1932 |
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Law Number | 231 |
Subjects |
Law Body
Chap. 231.—An ACT to provide for the supervision, regulation, and fixing of
the rates and charges of persons, associations and corporations, issuing motor
vehicle liability insurance policies; to require such persons, associations, and
corporations to file reports, rates, rate manuals, schedules of rates, rating plans,
information concerning rates, and changed and deviations therefrom, with the
State corporation commission; to prescribe the rights, powers and duties of
the State corporation commission concerning such matters; to provide for the
establishment of an administrative bureau and membership therein; to provide
for appeals from the State corporation commission; to prescribe penalties for
violations of this act; and to repeal all acts and parts of acts in conflict herewith.
[H B 159]
Approved March 23, 1932
Be it enacted by the general assembly of Virginia, as follows:
1. Each and every person, association or corporation authorized to
issue motor vehicle liability insurance policies in this State insuring
(a) against loss or damage resulting from accident to, or injury suffer-
ed by, any person, and for which the person insured is liable, and/or
(b) against loss by liability for damage to property resulting from the
ownership, maintenance or use of any motor-driven vehicle (other
than such person, association or corporation otherwise required by law
to be amember of some bureau in this State or whose rates or premium
charges are subject to control or supervision by the State corporation
commission), shall within thirty days from the date this act becomes
effective file with the State corporation commission, where the same
shall be kept open for public inspection, any and every rate manual,
schedule of rates, rating plan and all other information concerning
such automobile liability and/or property damage rates as may be
suggested, approved, or made by any such insurer, or by any rating
organization of which it is a member; and every such person, associa-
tion, or corporation authorized to insure against the hazards named in
this act shall file with the State corporation commission every devia-
tion from or increase or decrease in any rates as previously filed in any
rate manual or schedule of rates not less than thirty davs before it is
proposed that such deviation or increase or decrease shall be effective ;
provided that no such rate manual, or schedule of rates, or rating plan,
or any deviation therefrom or any increase or decrease therein shall
be or become effective unless and until within thirty days of the date
of the filing thereof, the State corporation commission shall have ap-
proved the same in writing, but the rates now established by persons,
associations or corporations authorized to issue motor vehicle liability
insurance policies in this State and in effect at the time of the passage
of this act, shall be used pending such approval; provided further that
the State corporation commission may approve any such rate manual
or schedule of rates or rating plan or any deviation therefrom or any
increase or decrease therein for a period of not less than ninety days
and may extend such temporary approval, at its discretion, for any
additional period of not less than ninety days each.
2. If within thirty days from the date of filing thereof any rate
manual or schedule of rates, or rating plan, or any deviation from or
any increase or decrease in any such manual or schedule or plan
previously filed shall not have been approved, or shall have been dis-
approved in writing by the State corporation commission for the reason
that such rates appear to be excessive or inadequate or unreasonable,
or that such rates discriminate unfairly between risks within this State
of essentially the same degree of hazard, upon application of any per-
son, association, or corporation who shall have filed such rate manual
or schedule of rates or rating plan or any deviation therefrom or any
increase or decrease therein, the State corporation commission shall
appoint a day not more than thirty days from the date of receipt of
such request for a hearing thereon.
If, upon such hearing, it shall be made to appear to the satisfaction
of the commission that the rates set forth in such rate manual or
schedule of rates or rating plan, or such deviation therefrom or in-
crease or decrease therein are fair and reasonable and do not dis-
criminate unfairly between risks of essentially the same degree of
hazard, then the same shall be set up, approved and established. If,
however, after a full and impartial hearing, the commission shall
decide that such rates are unfair, unreasonable or discriminatory, the
person, association or corporation filing such rates shall have the right
of appeal to the supreme court of appeals from any such decision or
order of the State corporation commission.
3. Every insurance carrier insuring against the hazards named in
section one of this act shall report to the State corporation commission,
in accordance with such reasonable rules as the commission may at any
time prescribe for the purpose of determining the solvency of the
carrier, and the fairness, reasonableness and adequacy of its rates;
and for such purpose, the commission may inspect the books and rec-
ords of such insurance carrier and examine its agents, officers and
directors under oath; and the commission shall have the power to, in
such manner and by such means as it may deem proper and adequate,
gather statistics and information, and make investigations concerning
rates for such insurance. In determining the question of rates and
premium charges, the corporation commission is authorized and em-
powered, in its discretion, to consider all branches and phases of the
business coming under the provisions of this act, both within and with-
out the State, and to use its own judgment and discretion in arriving
at rates and premium charges that are reasonable.
4. For the purpose of administering the rates and rating plans,
the insurance carriers insuring against the hazards named in section
one of this act shall organize a bureau, membership in which shall be
a prerequisite to authority to write the lines of insurance coming
under the provisions of this act (except that the Virginia insurance
rating bureau may be designated as the administrative bureau in in-
stances in which automobile property damage is written in conjunction
with automobile fire and theft insurance), which bureau shall have
power to make necessary rules and regulations, subject to the approval
of the State corporation commission, to carry out its functions. The
bureau shall be located in Richmond, Virginia.
5. Any person, association or corporation insuring against the
hazards named in section one of this act at rates which shall not have
been approved by the State corporation commission, or who shall other-
wise violate the provisions of this act, shall be subject to a fine of not
less than ten dollars nor more than one thousand dollars for each
offense, such fine to be imposed by the State corporation commission ;
and the State corporation commission shall have the right to revoke
the license of any person, association, or corporation, for violation of
any provision of this act. |
6. Nothing in this act shall be construed to prohibit mutual in-
surance companies and/or reciprocal or inter-insurance exchanges from
insuring against the hazards named in section one of this act, but such
mutual insurance companies and/or reciprocal or inter-insurance ex-
changes shall be subject to all of the provisions of this act.
7. All acts or parts of acts inconsistent with any of the provisions
of this act are hereby repealed.