Virginia Law

Code of Virginia

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Code of Virginia
Title 38.2. Insurance
Chapter 7. Antitrust Provisions
9/10/2024

§ 38.2-700. When domestic insurer may hold stock of another insurer.

Subject to Article 6 (§ 38.2-1335 et seq.) of Chapter 13 and Chapter 14 (§ 38.2-1400 et seq.) of this title, any domestic insurer may retain, invest in or acquire the whole or any part of the capital stock of any other insurer, unless the effect of such action (i) substantially lessens competition generally or (ii) tends to create a monopoly, in the business of insurance.

1952, c. 317, § 38.1-58; 1983, c. 457; 1986, c. 562.

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.