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Home » US Law » 2022 Code of Virginia » Title 5.1 - Aviation » Chapter 8.1 - Financial Responsibility

§ 5.1-88.1. Proof of financial responsibility to be furnished for each aircraft

No aircraft, as defined in § 5.1-1 except a public aircraft or a balloon shall be registered by the Department unless and until the applicant thereof furnishes proof of financial responsibility in the amounts required by this chapter for each aircraft for which a registration is applied for. Code 1950, § 5.1-83; 1968, c. 773; […]

§ 5.1-88.2. What constitutes proof of financial responsibility

A. The following shall constitute proof of financial responsibility as required by § 5.1-88.1: 1. The issuance, by an insurance company licensed to write such insurance in this Commonwealth, of a policy or policies of bodily injury and property damage liability insurance, or a policy or policies written pursuant to Chapter 48 (§ 38.2-4805.1 et […]

§ 5.1-88.3. Certain sections of Code incorporated by reference; definitions

The provisions of §§ 46.2-424, 46.2-447, 46.2-448, 46.2-449, 46.2-450, 46.2-451, 46.2-452, 46.2-456, 46.2-457, 46.2-458, 46.2-461, and 46.2-463 shall apply to all policies of insurance or other evidence of financial responsibility furnished hereunder except that whenever the word “Commissioner” appears in any of said sections it shall be taken to mean the Director of the Department […]

§ 5.1-88.4. Cancellation of insurance or corporate surety bond

No policy of insurance or corporate surety bond issued pursuant to this chapter may be canceled or terminated, except for nonpayment of premiums, until at least thirty days after notice of cancellation or termination of said policy of insurance or corporate surety bond has been filed in the office of the Department, except that a […]