CODE OF VIRGINIA

ADDITIONAL LICENSING REQUIREMENTS FOR DOMESTIC INSURERS (§ 38.2-1032)

No domestic insurer shall be licensed to transact the business of insurance in
this Commonwealth until it has furnished the Commission with a statement under
the seal of the insurer, verified by the president or treasurer or two of its
directors, showing (i) the amount of surplus, (ii) the amount of capital stock
fully paid in, (iii) the amount of actual cash in its treasury, (iv) the amount
invested with a list of the investments and their cash value, and (v) any other
information the Commission requires. In its discretion the Commission may make
or direct to be made an examination of the insurer to ascertain if it is
entitled to the license.

HISTORY: Code 1950, § 38-505; 1952, c. 317, § 38.1-91; 1960, c. 289; 1966, c.
580; 1986, c. 562.