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 1.1. Formation of Mutual Insurance Holding Company; Conversion of Mutual Holding Company to Stock Holding CompanyRead all
- § 38.2-1005.1:1
- Definitions
- § 38.2-1005.1:2
- Formation of mutual holding company and conversion of mutual company
- § 38.2-1005.1:3
- Mutual holding company membership interest
- § 38.2-1005.1:4
- Contents of plan of MHC conversion
- § 38.2-1005.1:5
- Adoption and approval of plan of MHC conversion
- § 38.2-1005.1:6
- Corporate existence
- § 38.2-1005.1:7
- Regulation and authority of a mutual holding company
- § 38.2-1005.1:8
- Diversion of business to affiliates
- § 38.2-1005.1:9
- Conversion of mutual holding company
- § 38.2-1005.1:10
- Conflicts of interest
- § 38.2-1005.1:11
- Costs and expenses
- § 38.2-1005.1:12
- Failure to give notice
- § 38.2-1005.1:13
- Limitation on actions
- 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 3. MergersRead all
- § 38.2-1017
- Applicability of Title 13.1
- § 38.2-1018
- Plan of merger to be approved by Commission
- 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
- Article 6. Refusal, Suspension or Revocation of Insurer's LicenseRead all
- § 38.2-1040
- Refusal, suspension or revocation of license
- § 38.2-1041
- Notice to company of proposed suspension or revocation
- § 38.2-1042
- Agent's authority likewise suspended or revoked
- § 38.2-1043
- Suspension or revocation published
- § 38.2-1044
- New business prohibited
- Article 7. DepositsRead all
- § 38.2-1045
- Deposits required of insurers generally
- § 38.2-1046
- Purpose of deposits; enforcement of lien
- § 38.2-1047
- How deposits applied to payment of claims; deficit to be made good
- § 38.2-1048
- Return of deposits
- § 38.2-1049
- Alternate deposit requirements
- § 38.2-1050
- Voluntary deposit in excess of amount required
- § 38.2-1051
- Repealed
- § 38.2-1052
- Exchange of securities
- § 38.2-1053
- Interest on deposits; to whom paid
- § 38.2-1054
- Duty of State Treasurer when securities deposited are paid
- § 38.2-1055
- Annual report of State Treasurer to Commission
- § 38.2-1056
- Treasurer to receipt for deposits; responsibility of Commonwealth; taxation of deposited bonds
- § 38.2-1057
- Assessment for expense of holding deposits; Insurance Collateral Assessment Fund
- § 38.2-1058
- Felony for State Treasurer to dispose of securities illegally
