Code of Virginia

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.

Code of Virginia
Title 38.2. Insurance
10/21/2019

Chapter 10. Organization, Admission and Licensing of InsurersRead Chapter

  • Article 1. Organization of Domestic InsurersRead all
  • § 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
    Voting
    § 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 InsurerRead all
  • § 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 InsurerRead all
  • § 38.2-1016.1
    Conversion of a health maintenance organization to an accident and sickness insurer
  • Article 4. Redomestication of InsurersRead all
  • § 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 InsurersRead all
  • § 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