38.2-700 - When domestic insurer may hold stock of another insurer. - Virginia Statutes

§ 38.2-700. When domestic insurer may hold stock of another insurer.

Subject to Article 6 (§ 38.2-1335 et seq.) of Chapter 13 and Chapter 14 (§38.2-1400 et seq.) of this title, any domestic insurer may retain, invest inor acquire the whole or any part of the capital stock of any other insurer,unless the effect of such action (i) substantially lessens competitiongenerally or (ii) tends to create a monopoly, in the business of insurance.

(1952, c. 317, § 38.1-58; 1983, c. 457; 1986, c. 562.)