38.2-1320.4 - Publication and use of examination reports. - Virginia Statutes

§ 38.2-1320.4. Publication and use of examination reports.

A. Upon the filing of the examination report under subdivision 1 of §38.2-1320.2, the Commission shall continue to hold the content of theexamination report as private and confidential information for a period often days except to the extent provided in § 38.2-1320.3. Thereafter, theCommission may open the report for public inspection so long as no court ofcompetent jurisdiction has stayed its publication.

B. Nothing contained in this Code shall prevent or be construed asprohibiting the Commission from disclosing the content of an examinationreport, preliminary examination report or results, or any matter relatingthereto, at any time to (i) a regulatory official of any state or country;(ii) the NAIC, its affiliate or its subsidiary; or (iii) a law-enforcementauthority of any state or country, so long as such agency, authority oroffice receiving the report or matters relating thereto agrees in writing tohold it confidential and in a manner consistent with this article. Any suchdisclosure by the Commission shall not constitute a waiver of confidentialityof any such reports or any matter relating thereto.

C. In the event the Commission determines that regulatory action isappropriate as a result of any examination, it may initiate any proceedingsor actions as provided by law.

(1992, c. 588; 2001, c. 519.)