STATE STATUTES & CODES

VIRGINIA STATUTES AND CODES

Chapter 10 - Organization, Admission and Licensing of Insurers (38.2-1000 thru 38.2-1058)

• 38.2-1000 - Incorporation of domestic stock insurers.
• 38.2-1001 - Incorporation of domestic mutual insurers.
• 38.2-1002 - Additional requirements of articles of incorporation; name.
• 38.2-1003 - When corporate status attained; bylaws filed with Commission.
• 38.2-1004 - Voting.
• 38.2-1005 - Certain mutual companies and societies not to become stock companies without approval of Commission.
• 38.2-1005.1 - Conversion of a domestic mutual insurer to a domestic stock insurer.
• 38.2-1005.1:1 - Definitions
• 38.2-1005.1:2 - Formation of mutual holding company and conversion of mutual company
• 38.2-1005.1:3 - Mutual holding company membership interest
• 38.2-1005.1:4 - Contents of plan of MHC conversion
• 38.2-1005.1:5 - Adoption and approval of plan of MHC conversion
• 38.2-1005.1:6 - Corporate existence
• 38.2-1005.1:7 - Regulation and authority of a mutual holding company
• 38.2-1005.1:8 - Diversion of business to affiliates
• 38.2-1005.1:9 - Conversion of mutual holding company
• 38.2-1005.1:10 - Conflicts of interest
• 38.2-1005.1:11 - Costs and expenses
• 38.2-1005.1:12 - Failure to give notice
• 38.2-1005.1:13 - Limitation on actions
• 38.2-1006 - Conversion of a domestic stock insurer to a mutual insurer.
• 38.2-1007 - Notice to policyholders of meeting to approve conversion.
• 38.2-1008 - Conduct of and voting at meeting.
• 38.2-1009 - Payment for shares pursuant to conversion plan.
• 38.2-1010 - How acquired shares held.
• 38.2-1011 - Disposition of dividends after payments provided in conversion plan.
• 38.2-1012 - Jurisdiction to compel completion of mutualization.
• 38.2-1013 - Venue of proceedings.
• 38.2-1014 - Parties and process.
• 38.2-1015 - Determining value of stock outstanding; dismissal of petition or entry of decree requiring payment for and transfer of stock.
• 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 an
• 38.2-1016.1 - Conversion of a health maintenance organization to an accident and sickness insurer.
• 38.2-1017 - Applicability of Title 13.1.
• 38.2-1018 - Plan of merger to be approved by Commission.
• 38.2-1019 - Change of status from foreign to domestic insurer.
• 38.2-1020 - Transfer of domicile from Virginia to another state.
• 38.2-1021 - Change of domicile of foreign insurer to another foreign state.
• 38.2-1022 - Commission to be notified of proposed transfer of domicile.
• 38.2-1023 - Effect of transfer of domicile on certificate of authority, agents' appointments and licenses, etc.
• 38.2-1024 - License required to transact the business of insurance; application fee requirements for license.
• 38.2-1025 - Annual renewal of license.
• 38.2-1026 - Retaliatory provisions as to taxes, fees, deposits and other requirements.
• 38.2-1027 - Admission of foreign and alien insurers.
• 38.2-1028 - Additional licensing requirements for stock insurers.
• 38.2-1029 - Additional licensing requirements for mutual insurers.
• 38.2-1030 - Surplus requirements for issuing policies without contingent liability.
• 38.2-1031 - Additional requirements, alien insurers.
• 38.2-1032 - Additional licensing requirements for domestic insurers.
• 38.2-1033 - Additional licensing requirements for foreign insurers.
• 38.2-1034 - How domestic mutual insurers may acquire initial surplus.
• 38.2-1035 - Domestic insurers to maintain minimum capital and surplus; proceedings by Commission if impairment found.
• 38.2-1036 - Impairment of capital and surplus of foreign and alien company ground for suspension or revocation of license.
• 38.2-1037 - Exceptions for licensed and operating insurers.
• 38.2-1038 - Authority of Commission to issue orders covering insurers in hazardous financial condition.
• 38.2-1039 - Enjoining unlicensed foreign or alien insurers from transacting the business of insurance in Commonwealth.
• 38.2-1039.1 - Risk retention groups.
• 38.2-1040 - Refusal, suspension or revocation of license.
• 38.2-1041 - Notice to company of proposed suspension or revocation.
• 38.2-1042 - Agent's authority likewise suspended or revoked.
• 38.2-1043 - Suspension or revocation published.
• 38.2-1044 - New business prohibited.
• 38.2-1045 - Deposits required of insurers generally.
• 38.2-1046 - Purpose of deposits; enforcement of lien.
• 38.2-1047 - How deposits applied to payment of claims; deficit to be made good.
• 38.2-1048 - Return of deposits.
• 38.2-1049 - Alternate deposit requirements.
• 38.2-1050 - Voluntary deposit in excess of amount required.
• 38.2-1051 - Description unavailable
• 38.2-1052 - Exchange of securities.
• 38.2-1053 - Interest on deposits; to whom paid.
• 38.2-1054 - Duty of State Treasurer when securities deposited are paid.
• 38.2-1055 - Annual report of State Treasurer to Commission.
• 38.2-1056 - Treasurer to receipt for deposits; responsibility of Commonwealth; taxation of deposited bonds.
• 38.2-1057 - Assessment for expense of holding deposits; Insurance Collateral Assessment Fund.
• 38.2-1058 - Felony for State Treasurer to dispose of securities illegally.

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