38.2-4808 - Effect of payment to surplus lines broker.
§ 38.2-4808. Effect of payment to surplus lines broker.
A. No surplus lines broker may accept a payment of premium for issuance ofsurplus lines insurance before placing the insurance with an eligible surpluslines insurer.
B. A payment of premium to a surplus lines broker shall be deemed to bepayment to the insurer notwithstanding any policy conditions or stipulationsto the contrary.
(1986, c. 562.)