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Virginia Law

Code of Virginia

Table of Contents » Title 38.2. Insurance » Chapter 10. Organization, Admission and Licensing of Insurers » Article 1.1. Formation of Mutual Insurance Holding Company; Conversion of Mutual Holding Company to Stock Holding Company » § 38.2-1005.1:8. Diversion of business to affiliates

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Code of Virginia
Title 38.2. Insurance
Chapter 10. Organization, Admission and Licensing of Insurers

11/5/2024

§ 38.2-1005.1:8. Diversion of business to affiliates.

Without prior approval of the Commission, neither the converted company nor any person affiliated with or controlling the converted company shall divert business from the converted company to any insurance company affiliated with the converted company if the purpose or effect of such diversion would be to reduce significantly the number of members of the mutual holding company.

2001, c. 726.

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.