Virginia § 15.2-2700 Declaration of policy, findings and purpose

Virginia Statutes

§ 15.2-2700 — Declaration of policy, findings and purpose

Virginia § 15.2-2700

Title 15.2COUNTIES, CITIES AND TOWNS

Subtitle IIPOWERS OF LOCAL GOVERNMENT

Ch. 27LOCAL GOVERNMENT GROUP SELF-INSURANCE POOLS

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Bluebook

Va. Code Ann. § 15.2-2700 (2026).

Text

The General Assembly hereby finds and determines that insurance protection is essential to the proper functioning of political subdivisions; that the resources of political subdivisions are burdened by the high cost of and frequent inability to secure such protection through standard carriers; that proper risk management requires the spreading of risk so as to minimize fluctuation in insurance needs; and that, therefore, all contributions of financial and administrative resources made by a political subdivision pursuant to an intergovernmental contract as authorized by this chapter are made for a public and governmental purpose, and that such contributions benefit each contributing political subdivision.

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The General Assembly hereby finds and determines that insurance protection is essential to the proper functioning of political subdivisions; that the resources of political subdivisions are burdened by the high cost of and frequent inability to secure such protection through standard carriers; that proper risk management requires the spreading of risk so as to minimize fluctuation in insurance needs; and that, therefore, all contributions of financial and administrative resources made by a political subdivision pursuant to an intergovernmental contract as authorized by this chapter are made for a public and governmental purpose, and that such contributions benefit each contributing political subdivision.