79287938.2-1024Virginia Decodedhttps://vacode.org2016InsuranceOrganization, Admission And Licensing Of InsurersLicensing Of InsurersLicense required to transact the business of insurance; application fee requirements for licenseCode 1950, §§ 38-31 to 38-33, 38-505, 38-514; 1952, c. 317, §§ 38.1-85, 38.1-86; 1978, cc. 4, 20; 1981, c. 605; 1986, c. 562; 1994, c. 316.The Commission shall not grant a license to do the business of insurance in this Commonwealth to any insurer until it is satisfied that, from the evidence it requires under uniform procedures suitable to and applied equally to all classes of insurers, the insurer:sectionBB1 Has paid all fees, taxes, and charges required by law;sectionB1B12 Has made any deposit required by this title;sectionB2B22 Has the minimum capital and surplus if a stock insurer, the minimum surplus if a mutual or a reciprocal insurer, and the minimum trusteed surplus if an alien insurer, prescribed in this title for insurers transacting the same class of insurance;sectionB3B32 Has filed a financial statement or statements and any reports, certificates or other documents the Commission considers necessary to secure a full and accurate knowledge of its affairs and financial condition;sectionB4B42 Is solvent and its financial condition, method of operation, and manner of doing business are such as to satisfy the Commission that it can meet its obligations to all policyholders; andsectionB5B52 Has otherwise complied with all the requirements of law.sectionB6B62Lawyers Title Ins. Corp. v. Norwest Corp.970385493 S.E.2d 1141997-10-31https://www.courtlistener.com/opinion/1059986/lawyers-title-ins-corp-v-norwest-corp/ . . . Commission alleged defendants were violating Code § 38.2-1024 by offering TOP and thereby . . . <abbr title="Supreme Court of Virginia">SCV</abbr>Falls Church Const. Corp. v. Valle0550954464 S.E.2d 5171995-12-12https://www.courtlistener.com/opinion/1068154/falls-church-const-corp-v-valle/ . . . transact insurance business in Virginia. See Code §§ 38.2-1024, 38.2-1027 (stating no insurer . . . <abbr title="Court of Appeals">COA</abbr>http://law.lis.virginia.gov/vacode/38.2-1024/38.2-1025Annual renewal of license/38.2-1025/38.2-1027Admission of foreign and alien insurers/38.2-1027/38.2-400Expense of administration of insurance laws borne by licensees; minimum contribution/38.2-400/38.2-4806Notice to insured that insurance is not placed with a licensed insurer required/38.2-4806//38.2-1024/38.2/10/5/38.2-102438.2-1016.138.2-101938.2-102538.2-102738.2-110238.2-110538.2-110638.2-120638.2-251138.2-260438.2-510738.2-6113