38.2-4413 - Licensing of organization. - Virginia Statutes

§ 38.2-4413. Licensing of organization.

A. No person shall operate a legal services plan in this Commonwealth withouta license issued by the Commission. Each organization shall apply for alicense and furnish any relevant information the Commission requires. Eachlicense shall expire at midnight on the following June 30. A nonrefundableapplication fee of $500 shall be paid with each application for a license.

B. The Commission shall not issue to or renew a license of an organizationunless it is satisfied that the financial condition, the method of operation,and the manner of doing business of the organization enable it to meet itscontractual obligations to all subscribers and that the organization hasotherwise complied with all the requirements of law.

(1978, c. 658, § 38.1-802; 1986, c. 562.)