The Commission may, in its discretion, after reviewing all information pertaining to the applicant or policyholder available from its records, the records of the Department or from other sources:
1. Refuse to assign an application;
2. Approve the rejection of an application by an insurance carrier;
3. Approve the cancellation of a policy of motor vehicle liability, physical damage, and medical payments insurance by an insurance carrier; or
4. Refuse to approve the renewal or the reassignment of an expiring policy.
Code 1950, § 46-488; 1958, c. 541, § 46.1-499; 1972, c. 842; 1989, c. 727.