Code of Virginia

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Chapter 10.
Organization, Admission and Licensing of Insurers
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  • Article 1.
    Organization of Domestic Insurers
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  • § 38.2-1000
    Incorporation of domestic stock insurers
    § 38.2-1001
    Incorporation of domestic mutual insurers
    § 38.2-1002
    Additional requirements of articles of incorporation; name
    § 38.2-1003
    When corporate status attained; bylaws filed with Commission
    § 38.2-1004
    § 38.2-1005
    Certain mutual companies and societies not to become stock companies without approval of Commission
    § 38.2-1005.1
    Conversion of a domestic mutual insurer to a domestic stock insurer
  • Article 2.
    Conversion of Domestic Stock Insurer to Mutual Insurer
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  • § 38.2-1006
    Conversion of a domestic stock insurer to a mutual insurer
    § 38.2-1007
    Notice to policyholders of meeting to approve conversion
    § 38.2-1008
    Conduct of and voting at meeting
    § 38.2-1009
    Payment for shares pursuant to conversion plan
    § 38.2-1010
    How acquired shares held
    § 38.2-1011
    Disposition of dividends after payments provided in conversion plan
    § 38.2-1012
    Jurisdiction to compel completion of mutualization
    § 38.2-1013
    Venue of proceedings
    § 38.2-1014
    Parties and process
    § 38.2-1015
    Determining value of stock outstanding; dismissal of petition or entry of decree requiring payment for and transfer of stock
    § 38.2-1016
    Amendment of charter and bylaws; change of name; retirement and cancellation of stock; when mutualization effective; assets and liabilities; officers and directors; general restrictions and powers
  • Article 2.1.
    Conversion of Health Maintenance Organization to Accident and Sickness Insurer
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  • § 38.2-1016.1
    Conversion of a health maintenance organization to an accident and sickness insurer
  • Article 4.
    Redomestication of Insurers
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  • § 38.2-1019
    Change of status from foreign to domestic insurer
    § 38.2-1020
    Transfer of domicile from Virginia to another state
    § 38.2-1021
    Change of domicile of foreign insurer to another foreign state
    § 38.2-1022
    Commission to be notified of proposed transfer of domicile
    § 38.2-1023
    Effect of transfer of domicile on certificate of authority, agents' appointments and licenses, etc.
  • Article 5.
    Licensing of Insurers
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  • § 38.2-1024
    License required to transact the business of insurance; application fee requirements for license
    § 38.2-1025
    Annual renewal of license
    § 38.2-1026
    Retaliatory provisions as to taxes, fees, deposits and other requirements
    § 38.2-1027
    Admission of foreign and alien insurers
    § 38.2-1028
    Additional licensing requirements for stock insurers
    § 38.2-1029
    Additional licensing requirements for mutual insurers
    § 38.2-1030
    Surplus requirements for issuing policies without contingent liability
    § 38.2-1031
    Additional requirements, alien insurers
    § 38.2-1032
    Additional licensing requirements for domestic insurers
    § 38.2-1033
    Additional licensing requirements for foreign insurers
    § 38.2-1034
    How domestic mutual insurers may acquire initial surplus
    § 38.2-1035
    Domestic insurers to maintain minimum capital and surplus; proceedings by Commission if impairment found
    § 38.2-1036
    Impairment of capital and surplus of foreign and alien company ground for suspension or revocation of license
    § 38.2-1037
    Exceptions for licensed and operating insurers
    § 38.2-1038
    Authority of Commission to issue orders covering insurers in hazardous financial condition
    § 38.2-1039
    Enjoining unlicensed foreign or alien insurers from transacting the business of insurance in Commonwealth
    § 38.2-1039.1
    Risk retention groups