CODE OF VIRGINIA

DEFAULT OF FOREIGN INSURANCE CARRIER (§ 46.2-442)

If any insurance carrier not authorized to do business in the Commonwealth which
is qualified to furnish proof of financial responsibility defaults in any of its
undertakings or agreements, the Commissioner shall not thereafter accept any
certificate of that carrier so long as the default continues and shall revoke
licenses previously granted on the basis of its policies unless the default is
immediately repaired.

HISTORY: Code 1950, § 46-462; 1958, c. 541, § 46.1-474; 1989, c. 727.