CODE OF VIRGINIA

WHEN DIRECTOR OF A DOMESTIC INSURER MAY BE A DIRECTOR OF ANOTHER INSURER (§
38.2-701)

Any domestic insurer may have a director who is also a director of another
domestic, foreign or alien insurer, unless the effect thereof (i) substantially
lessens competition generally or (ii) tends to create a monopoly, in the
business of insurance.

HISTORY: 1952, c. 317, § 38.1-59; 1986, c. 562.