CHAPTER 386

An Act to amend and reenact § 38.1-288 of the Code of Virginia, relat-
ing to the countersignature on certain insurance policies.
[H 636]

Approved April 2, 1954
Be it enacted by the General Assembly of Virginia:

1. That § 38.1-283 of the Code of Virginia be amended and reenacted
so as to read as follows:

§ 38.1-283. Countersignature required on certain policies; who may
countersign for companies other than mutual companies.—Except as
otherwise provided in this title, no contract of insurance covering a sub-
ject of insurance resident, located, or to be performed in this State, shall
be executed, issued or delivered by any insurance company other than a
mutual company unless the contract or a countersignature endorsement
carrying full information as to the Virginia risk is signed or counter-
signed in writing by a licensed resident agent of the company. If the
resident agent is a partnership the contract or countersignature endorse-
ment shall be signed in the partnership name by an individual licensed
resident agent who is an active partner or an employee of the partnership *
authorized to solicit or effect insurance in the name of the firm, and if
the resident agent is a corporation the contract or countersignature
endorsement shall be signed in the corporate name by an individual
licensed resident agent who is an officer, director or employee of the
corporation * authorized to solicit or effect insurance in the name of the
corporation.