Administrator and service company affiliation prohibited; exception

Checkout our iOS App for a better way to browser and research.

A. No person, firm or corporation, which is engaged as an administrator for a group self-insurance association, shall be an employee, officer or director of, or have a direct or indirect financial interest in any person, firm or corporation which is engaged in the business of providing services for a group self-insurance association as a service company.

B. No person, firm or corporation, which is engaged in the business of providing services for a group self-insurance association as a service company, shall be an employee, officer or director of, or have a direct or indirect financial interest in, any person, firm or corporation which is engaged as an administrator for a group self-insurance association.

C. For purposes of this section, the term "firm" or "corporation" shall include any officer, director, or employee of any such firm or corporation.

D. This section shall not be construed to affect any contract, or extensions or renewals thereof, for services as an administrator or service company entered into by a group self-insurance association and effective prior to January 1, 1989.

1989, c. 662, § 65.1-104.3; 1991, c. 355.


Download our app to see the most-to-date content.