Organization, Admission and Licensing of Insurers

  1. Law
  2. Code of Virginia
  3. Insurance
  4. Organization, Admission and Licensing of Insurers

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Section
38.2-1000

Incorporation of domestic stock insurers

Section
38.2-1001

Incorporation of domestic mutual insurers

Section
38.2-1002

Additional requirements of articles of incorporation; name

Section
38.2-1003

When corporate status attained; bylaws filed with Commission

Section
38.2-1004

Voting

Section
38.2-1005

Certain mutual companies and societies not to become stock companies without approval of Commission

Section
38.2-1005.1

Conversion of a domestic mutual insurer to a domestic stock insurer

Section
38.2-1005.1

1. Definitions

Section
38.2-1005.1

2. Formation of mutual holding company and conversion of mutual company

Section
38.2-1005.1

3. Mutual holding company membership interest

Section
38.2-1005.1

4. Contents of plan of MHC conversion

Section
38.2-1005.1

5. Adoption and approval of plan of MHC conversion

Section
38.2-1005.1

6. Corporate existence

Section
38.2-1005.1

7. Regulation and authority of a mutual holding company

Section
38.2-1005.1

8. Diversion of business to affiliates

Section
38.2-1005.1

9. Conversion of mutual holding company

Section
38.2-1005.1

10. Conflicts of interest

Section
38.2-1005.1

11. Costs and expenses

Section
38.2-1005.1

12. Failure to give notice

Section
38.2-1005.1

13. Limitation on actions

Section
38.2-1006

Conversion of a domestic stock insurer to a mutual insurer

Section
38.2-1007

Notice to policyholders of meeting to approve conversion

Section
38.2-1008

Conduct of and voting at meeting

Section
38.2-1009

Payment for shares pursuant to conversion plan

Section
38.2-1010

How acquired shares held

Section
38.2-1011

Disposition of dividends after payments provided in conversion plan

Section
38.2-1012

Jurisdiction to compel completion of mutualization

Section
38.2-1013

Venue of proceedings

Section
38.2-1014

Parties and process

Section
38.2-1015

Determining value of stock outstanding; dismissal of petition or entry of decree requiring payment for and transfer of stock

Section
38.2-1016

Amendment of charter and bylaws; change of name; retirement and cancellation of stock; when mutualization effective; assets and liabilities; officers and directors; general restrictions and powers

Section
38.2-1016.1

Conversion of a health maintenance organization to an accident and sickness insurer

Section
38.2-1017

Applicability of Title 13.1

Section
38.2-1018

Plan of merger to be approved by Commission

Section
38.2-1019

Change of status from foreign to domestic insurer

Section
38.2-1020

Transfer of domicile from Virginia to another state

Section
38.2-1021

Change of domicile of foreign insurer to another foreign state

Section
38.2-1022

Commission to be notified of proposed transfer of domicile

Section
38.2-1023

Effect of transfer of domicile on certificate of authority, agents' appointments and licenses, etc.

Section
38.2-1024

License required to transact the business of insurance; application fee requirements for license

Section
38.2-1025

Annual renewal of license

Section
38.2-1026

Retaliatory provisions as to taxes, fees, deposits and other requirements

Section
38.2-1027

Admission of foreign and alien insurers

Section
38.2-1028

Additional licensing requirements for stock insurers

Section
38.2-1029

Additional licensing requirements for mutual insurers

Section
38.2-1030

Surplus requirements for issuing policies without contingent liability

Section
38.2-1031

Additional requirements, alien insurers

Section
38.2-1032

Additional licensing requirements for domestic insurers

Section
38.2-1033

Additional licensing requirements for foreign insurers

Section
38.2-1034

How domestic mutual insurers may acquire initial surplus

Section
38.2-1035

Domestic insurers to maintain minimum capital and surplus; proceedings by Commission if impairment found

Section
38.2-1036

Impairment of capital and surplus of foreign and alien company ground for suspension or revocation of license

Section
38.2-1037

Exceptions for licensed and operating insurers

Section
38.2-1038

Authority of Commission to issue orders covering insurers in hazardous financial condition

Section
38.2-1039

Enjoining unlicensed foreign or alien insurers from transacting the business of insurance in Commonwealth

Section
38.2-1039.1

Risk retention groups

Section
38.2-1040

Refusal, suspension or revocation of license

Section
38.2-1041

Notice to company of proposed suspension or revocation

Section
38.2-1042

Agent's authority likewise suspended or revoked

Section
38.2-1043

Suspension or revocation published

Section
38.2-1044

New business prohibited

Section
38.2-1045

Deposits required of insurers generally

Section
38.2-1046

Purpose of deposits; enforcement of lien

Section
38.2-1047

How deposits applied to payment of claims; deficit to be made good

Section
38.2-1048

Return of deposits

Section
38.2-1049

Alternate deposit requirements

Section
38.2-1050

Voluntary deposit in excess of amount required

Section
38.2-1051

Repealed

Section
38.2-1052

Exchange of securities

Section
38.2-1053

Interest on deposits; to whom paid

Section
38.2-1054

Duty of State Treasurer when securities deposited are paid

Section
38.2-1055

Annual report of State Treasurer to Commission

Section
38.2-1056

Treasurer to receipt for deposits; responsibility of Commonwealth; taxation of deposited bonds

Section
38.2-1057

Assessment for expense of holding deposits; Insurance Collateral Assessment Fund

Section
38.2-1058

Felony for State Treasurer to dispose of securities illegally