CODE OF VIRGINIA

REVOCATION, SUSPENSION, OR NONRENEWAL OF INSURER’S LICENSE (§ 38.2-1340)

Whenever it appears to the Commission that any person has committed a violation
of this article that makes the continued operation of a domestic insurer
contrary to the interests of policyholders or the public, the Commission may,
after giving notice and an opportunity to be heard, suspend, revoke or refuse to
renew the insurer’s license to do business in this Commonwealth for
whatever period it finds is required for the protection of policyholders or the
public. Any such action shall be supported by specific findings of fact and
conclusions of law.

HISTORY: 1977, c. 414, § 38.1-178.19; 1986, c. 562.