38.2-1334 - Revocation, suspension, or nonrenewal of insurer's license. - Virginia Statutes

§ 38.2-1334. Revocation, suspension, or nonrenewal of insurer's license.

Whenever it appears to the Commission that any person has committed aviolation of this article that makes the continued operation of an insurercontrary to the interests of policyholders or the public, the Commissionafter giving notice and an opportunity to be heard, may suspend, revoke orrefuse to renew the insurer's license to transact business in thisCommonwealth for whatever period it finds is required for the protection ofpolicyholders or the public. Any such action shall be supported by specificfindings of fact and conclusions of law.

(1973, c. 505, § 38.1-178.9; 1986, c. 562.)