Rehabilitation and Liquidation of Insurers

This is the 2026 edition of the code. This is the current edition. It was last updated Aug 02, 2026. Browse all editions.

This is Chapter 15 of the Code of Virginia, titled “Rehabilitation and Liquidation of Insurers.” It is part of Title 38.2 “Insurance”. It contains 23 laws.

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