38.2-3906 - Licensing of additional companies prohibited. - Virginia Statutes

§ 38.2-3906. Licensing of additional companies prohibited.

Any insurer that was not licensed and engaged in the business of mutualassessment life, accident and sickness insurance in this Commonwealth underthe provisions of former Title 38.1 on July 1, 1952, shall not be issued alicense pursuant to this chapter to transact the business of insurance inthis Commonwealth. On or after that date a license shall not be issuedexcept for renewal of a license held by the insurer for the preceding year.

(1985, c. 400, § 38.1-549.7; 1986, c. 562.)