38.2-4223 - Renewal of license. - Virginia Statutes

§ 38.2-4223. Renewal of license.

A. Each nonstock corporation shall renew its license with the Commissionannually by July 1. The renewal license shall not be issued unless thenonstock corporation has complied with all requirements of law.

B. The Commission shall not fail or refuse to renew the license of anynonstock corporation without first giving the nonstock corporation ten days'notice of its intention not to renew the license and giving the nonstockcorporation an opportunity to be heard and introduce evidence in its behalf.Any such hearing may be informal, and the required notice may be waived bythe Commission and the nonstock corporation.

(Code 1950, § 32-195.12; 1956, c. 268, § 38.1-826; 1978, c. 4; 1979, c. 721;1980, c. 682; 1986, c. 562; 1987, cc. 565, 655.)