Abstract: A valve assembly is provided which includes a valve member for being shifted between open and closed positions, and a control member having an operative position for maintaining the valve member in the open position until a predetermined fluid level is reached and an inoperative position to allow the valve member to shift to the closed position at the predetermined fluid level. The valve assembly is preferably a two-way valve for use with LP tanks to prevent overfilling thereof beyond the maximum predetermined fluid level. A float assembly rises and falls in substantial correspondence to the rising and falling of the fluid level in the vessel space, and an actuator of the fluid assembly shifts the control member at the predetermined fluid level to the inoperative position to allow the valve member to shift to the closed position for preventing further fluid intake into the vessel.