46.2-442 - Default of foreign insurance carrier. - Virginia Statutes

§ 46.2-442. Default of foreign insurance carrier.

If any insurance carrier not authorized to do business in the Commonwealthwhich is qualified to furnish proof of financial responsibility defaults inany of its undertakings or agreements, the Commissioner shall not thereafteraccept any certificate of that carrier so long as the default continues andshall revoke licenses previously granted on the basis of its policies unlessthe default is immediately repaired.

(Code 1950, § 46-462; 1958, c. 541, § 46.1-474; 1989, c. 727.)