38.2-200 - General powers of the Commission relative to insurance. - Virginia Statutes

§ 38.2-200. General powers of the Commission relative to insurance.

A. The Commission is charged with the execution of all laws relating toinsurance and insurers. All companies, domestic, foreign, and alien,transacting or licensed to transact the business of insurance in thisCommonwealth are subject to inspection, supervision and regulation by theCommission.

B. All licenses granting the authority to transact the business of insurancein this Commonwealth shall be granted and issued by the Commission under itsseal. The licenses shall be in addition to the certificates of authorityrequired of foreign corporations under §§ 13.1-757 and 13.1-919.

(Code 1950, § 38-2; 1952, c. 317, § 38.1-29; 1986, c. 562.)