Rehabilitation And Liquidation Of Insurers
This is Chapter 15 of the Code of Virginia, titled “Rehabilitation And Liquidation Of Insurers.” It is part of Title 38.2, titled “Insurance.” It’s comprised of the following 23 sections.
- § 38.2-1500
- Scope of chapter
- § 38.2-1501
- Definitions
- § 38.2-1502
- Jurisdiction and procedure
- § 38.2-1503
- Grounds for delinquency proceedings commenced by Commission against domestic insurer
- § 38.2-1504
- Requirements when proceedings instituted by any person other than Commission
- § 38.2-1505
- Commission may apply for receiver and for other relief; what orders court may enter
- § 38.2-1506
- Requirements when receiver appointed; disbursement of available assets to association, etc
- § 38.2-1507
- Further procedure; injunction may be issued
- § 38.2-1508
- Powers of Commission when authorized to rehabilitate or liquidate companies
- § 38.2-1509
- Powers of Commission when authorized to rehabilitate or liquidate insurers by court order; disbursement of available assets to an association, etc
- § 38.2-1510
- Commission may appoint assistants in connection with rehabilitation or liquidation
- § 38.2-1511
- Borrowing on pledge of assets
- § 38.2-1512
- Rights and liabilities fixed upon liquidation
- § 38.2-1513
- Voidable transfers
- § 38.2-1514
- Priority of claims for wages
- § 38.2-1515
- Mutual debts or credits, how treated
- § 38.2-1516
- Receivers to file reports, etc., with Commission
- § 38.2-1517
- What included in annual report of Commission
- § 38.2-1518
- Rehabilitation or mutualization of companies
- § 38.2-1519
- Termination of rehabilitation; when liquidation may be entered
- § 38.2-1520
- Liquidation of alien insurers
- § 38.2-1521
- Conservation of assets of foreign or alien insurer; when liquidation may be entered
- § 38.2-1522
- Qualified financial contracts