Administrative Code

Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report.

Virginia Administrative Code
Title 14. Insurance
Agency 5. State Corporation Commission, Bureau of Insurance
Chapter 250. Rules, Regulations and Forms Relating to Restrictions on the Purchase and Sale of Equity Securities of Domestic Stock Insurance Companies
9/21/2020

14VAC5-250-230. Arbitrage Transactions under Subsection E of the Act.

It shall be unlawful for any director or officer of an insurer to effect any foreign or domestic arbitrage transaction in any equity security of such insurer, unless he shall include such transaction in the statements required by subsection A of the Act (Section 38.2-214 of the Code of Virginia) and shall account to such insurer for the profits arising from such transactions, as provided in subsection B thereof. The provisions of subsection C shall not apply to such arbitrage transactions. The provisions of the Act shall not apply to any bona fide foreign or domestic arbitrage transaction insofar as it is effected by any person other than such director or officer of the insurer.

Statutory Authority

§ 38.2-214 of the Code of Virginia.

Historical Notes

Derived from Regulation 5, Case No. 18773, Rule 23, eff. April 1, 1970.

Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon. To ensure the information incorporated by reference is accurate, the reader is encouraged to use the source document described in the regulation.

As a service to the public, the Virginia Administrative Code is provided online by the Virginia General Assembly. We are unable to answer legal questions or respond to requests for legal advice, including application of law to specific fact. To understand and protect your legal rights, you should consult an attorney.