Code of Virginia

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Code of Virginia
Title 38.2. Insurance
Chapter 18. Insurance Agents
4/22/2021

§ 38.2-1845.10. Grounds for placing on probation, refusal to issue or renew, revocation, or suspension of license.

The Commission may, in addition to or in lieu of a penalty imposed under § 38.2-218, place on probation, suspend, revoke, or refuse to issue or renew any person's license for any one or more of the following causes:

1. Providing materially incorrect, misleading, incomplete, or untrue information in the license application or any other document filed with the Commission;

2. Violating any insurance laws or violating any regulation, subpoena, or order of the Commission or of another state's insurance regulatory authority;

3. Obtaining or attempting to obtain a license through misrepresentation or fraud;

4. Improperly withholding, misappropriating, or converting any moneys or properties received in the course of doing business as a public adjuster;

5. Having been convicted of a felony, a crime of moral turpitude, or any criminal offense involving dishonesty or a breach of trust;

6. Having admitted or been found to have committed any insurance unfair trade practice, as set forth in Chapter 5 (§ 38.2-500 et seq.), or fraud;

7. Using fraudulent, coercive, or dishonest practices or demonstrating incompetence or untrustworthiness in the conduct of business in the Commonwealth or elsewhere, or demonstrating financial irresponsibility in the handling of policyholder, agency, or insurance company funds;

8. Having public adjuster license, or its equivalent, denied, suspended, or revoked in any other state, province, district, or territory;

9. Intentionally misrepresenting the terms of an insurance contract;

10. Knowingly accepting public adjusting business from an individual who unlawfully solicited business and who is not licensed but who is required to be licensed under this article;

11. Paying or sharing a commission, fee, or other valuable consideration to a person who is required to be licensed under this article and is not so licensed;

12. Forging another's name to any document related to an insurance transaction;

13. Improperly using notes or any other reference material to complete an examination for a public adjuster license;

14. Failing to comply with an administrative or court order imposing a child support obligation;

15. Failing to pay Virginia income tax or comply with any administrative or court order directing payment of state income tax; or

16. Failing to report to the Commission as required by § 38.2-1845.17.

2012, cc. 734, 735.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.