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68 chapters · 1,805 sections in this title.
Va. Code Ann. § 38.2-1033 Additional licensing requirements for foreign insurers
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No foreign insurer shall be licensed to transact the business of insurance in this Commonwealth until it has filed with the Commission a certificate from the supervising insurance official of the state in which it is incorporated certifying that it is authorized to write the clas…
Va. Code Ann. § 38.2-1034 How domestic mutual insurers may acquire initial surplus
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Any domestic mutual insurer or mutual assessment property and casualty insurer may, without pledging any of its assets, provide a guaranty fund sufficient to defray the expenses of its organization and its initial minimum surplus required to obtain a license to do the business of…
Va. Code Ann. § 38.2-1035 Domestic insurers to maintain minimum capital and surplus; proceedings by Commission if impairment found
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A. Each domestic insurer shall maintain at all times the minimum surplus if a mutual insurer, and the minimum capital and surplus if a stock insurer, required by §§ 38.2-1028, 38.2-1029 or § 38.2-1030. If the Commission finds that (i) the minimum capital and surplus of a domestic…
Va. Code Ann. § 38.2-1036 Impairment of capital and surplus of foreign and alien company ground for suspension or revocation of license
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Each foreign and each alien insurer shall maintain at all times the minimum surplus, capital and surplus, or trusteed surplus required by §§ 38.2-1028, 38.2-1029, 38.2-1030 or § 38.2-1031. If the Commission finds an impairment of (i) the required minimum capital and surplus of an…