38.2-1357 - Requirement to report to Commission. - Virginia Statutes

§ 38.2-1357. Requirement to report to Commission.

A. Each licensed reinsurance intermediary shall report any change in businessor residence address or name within thirty calendar days to the Commissionand to any contracted insurer.

B. In addition to the requirements of §§ 59.1-69 and 59.1-70, any individualor business entity licensed as a reinsurance intermediary in thisCommonwealth and operating under an assumed or fictitious name shall notifythe Commission, at the earlier of the time the application for a reinsuranceintermediary license is filed or within thirty calendar days from the datethe assumed or fictitious name is adopted, setting forth the name under whichthe reinsurance intermediary intends to operate in Virginia. The Commissionshall also be notified within thirty calendar days from the date of cessationof the use of such assumed or fictitious name.

C. Each licensed reinsurance intermediary convicted of a felony shall reportwithin thirty calendar days to the Commission the facts and circumstancesregarding the criminal conviction.

(2001, c. 706.)