{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/38.2-1039.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/38.2-1039.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/38.2-1039.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/38.2-1039.1.html"}],"law_id":361180,"edition_id":2,"section_id":361180,"structure_id":51655,"section_number":"38.2-1039.1","catch_line":"Risk retention groups","history":"1987, c. 585.","full_text":"Except in the case of a risk retention group all of whose members are insurers, no risk retention group, as defined in Chapter 51 of this title, shall be licensed in this Commonwealth if an insurer is directly or indirectly a member or owner of such risk retention group.\n\n","order_by":null,"text":{"0":{"id":1343994,"text":"Except in the case of a risk retention group all of whose members are insurers, no risk retention group, as defined in Chapter 51 of this title, shall be licensed in this Commonwealth if an insurer is directly or indirectly a member or owner of such risk retention group.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":51655,"edition_id":2,"name":"Licensing of Insurers","identifier":"5","label":"article","depth":3,"order_by":6,"parent_id":51647,"metadata":{"child_laws":17,"child_structures":0},"date_created":"2026-08-02 02:45:36","date_modified":"2026-08-02 12:32:59","permalink":{"id":1438023,"object_type":"structure","relational_id":51655,"identifier":"5","token":"38.2\/10\/5","url":"\/38.2\/10\/5\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51647,"edition_id":2,"name":"Organization, Admission and Licensing of Insurers","identifier":"10","label":"chapter","depth":2,"order_by":10,"parent_id":51644,"metadata":{"child_laws":75,"child_structures":9},"date_created":"2026-08-02 02:45:30","date_modified":"2026-08-02 12:32:58","permalink":{"id":1437853,"object_type":"structure","relational_id":51647,"identifier":"10","token":"38.2\/10","url":"\/38.2\/10\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51644,"edition_id":2,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":88,"parent_id":null,"metadata":{"child_laws":1890,"child_structures":173},"date_created":"2026-08-02 02:45:30","date_modified":"2026-08-02 12:32:55","permalink":{"id":1437663,"object_type":"structure","relational_id":51644,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":361164,"structure_id":51655,"section_number":"38.2-1024","catch_line":"License required to transact the business of insurance; application fee requirements for license","url":"\/38.2-1024\/","token":"38.2\/10\/5\/38.2-1024","metadata":false},{"id":361165,"structure_id":51655,"section_number":"38.2-1025","catch_line":"Annual renewal of license","url":"\/38.2-1025\/","token":"38.2\/10\/5\/38.2-1025","metadata":false},{"id":361166,"structure_id":51655,"section_number":"38.2-1026","catch_line":"Retaliatory provisions as to taxes, fees, deposits and other requirements","url":"\/38.2-1026\/","token":"38.2\/10\/5\/38.2-1026","metadata":false},{"id":361167,"structure_id":51655,"section_number":"38.2-1027","catch_line":"Admission of foreign and alien insurers","url":"\/38.2-1027\/","token":"38.2\/10\/5\/38.2-1027","metadata":false},{"id":361168,"structure_id":51655,"section_number":"38.2-1028","catch_line":"Additional licensing requirements for stock insurers","url":"\/38.2-1028\/","token":"38.2\/10\/5\/38.2-1028","metadata":false},{"id":361169,"structure_id":51655,"section_number":"38.2-1029","catch_line":"Additional licensing requirements for mutual insurers","url":"\/38.2-1029\/","token":"38.2\/10\/5\/38.2-1029","metadata":false},{"id":361171,"structure_id":51655,"section_number":"38.2-1030","catch_line":"Surplus requirements for issuing policies without contingent liability","url":"\/38.2-1030\/","token":"38.2\/10\/5\/38.2-1030","metadata":false},{"id":361172,"structure_id":51655,"section_number":"38.2-1031","catch_line":"Additional requirements, alien insurers","url":"\/38.2-1031\/","token":"38.2\/10\/5\/38.2-1031","metadata":false},{"id":361173,"structure_id":51655,"section_number":"38.2-1032","catch_line":"Additional licensing requirements for domestic insurers","url":"\/38.2-1032\/","token":"38.2\/10\/5\/38.2-1032","metadata":false},{"id":361174,"structure_id":51655,"section_number":"38.2-1033","catch_line":"Additional licensing requirements for foreign insurers","url":"\/38.2-1033\/","token":"38.2\/10\/5\/38.2-1033","metadata":false},{"id":361175,"structure_id":51655,"section_number":"38.2-1034","catch_line":"How domestic mutual insurers may acquire initial surplus","url":"\/38.2-1034\/","token":"38.2\/10\/5\/38.2-1034","metadata":false},{"id":361176,"structure_id":51655,"section_number":"38.2-1035","catch_line":"Domestic insurers to maintain minimum capital and surplus; proceedings by Commission if impairment found","url":"\/38.2-1035\/","token":"38.2\/10\/5\/38.2-1035","metadata":false},{"id":361177,"structure_id":51655,"section_number":"38.2-1036","catch_line":"Impairment of capital and surplus of foreign and alien company ground for suspension or revocation of license","url":"\/38.2-1036\/","token":"38.2\/10\/5\/38.2-1036","metadata":false},{"id":361178,"structure_id":51655,"section_number":"38.2-1037","catch_line":"Exceptions for licensed and operating insurers","url":"\/38.2-1037\/","token":"38.2\/10\/5\/38.2-1037","metadata":false},{"id":361179,"structure_id":51655,"section_number":"38.2-1038","catch_line":"Authority of Commission to issue orders covering insurers in hazardous financial condition","url":"\/38.2-1038\/","token":"38.2\/10\/5\/38.2-1038","metadata":false},{"id":361181,"structure_id":51655,"section_number":"38.2-1039","catch_line":"Enjoining unlicensed foreign or alien insurers from transacting the business of insurance in Commonwealth","url":"\/38.2-1039\/","token":"38.2\/10\/5\/38.2-1039","metadata":false},{"id":361180,"structure_id":51655,"section_number":"38.2-1039.1","catch_line":"Risk retention groups","url":"\/38.2-1039.1\/","token":"38.2\/10\/5\/38.2-1039.1","metadata":false}],"previous_section":{"id":361181,"structure_id":51655,"section_number":"38.2-1039","catch_line":"Enjoining unlicensed foreign or alien insurers from transacting the business of insurance in Commonwealth","url":"\/38.2-1039\/","token":"38.2\/10\/5\/38.2-1039","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1039.1\/","history_text":"<p>This law was first created in 1987. The record of its establishment is cataloged in chapter 585 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1987 \u201cActs\u201d aren\u2019t available online.<\/p>","references":false,"refers_to":false,"permalink":{"id":1438089,"object_type":"law","relational_id":361180,"identifier":"38.2-1039.1","token":"38.2\/10\/5\/38.2-1039.1","url":"\/38.2-1039.1\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/38.2-1039.1\/","token":"38.2\/10\/5\/38.2-1039.1","dublin_core":{"Title":"Risk retention groups","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1039.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Except in the case of a risk retention group all of whose members are <span class=\"dictionary\">insurers<\/span>, no risk retention group, as defined in Chapter 51 of this title, shall be licensed in this Commonwealth if an <span class=\"dictionary\">insurer<\/span> is directly or indirectly a member or owner of such risk retention group.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nRISK RETENTION GROUPS (\u00a7 38.2-1039.1)\n\nExcept in the case of a risk retention group all of whose members are insurers,\nno risk retention group, as defined in Chapter 51 of this title, shall be\nlicensed in this Commonwealth if an insurer is directly or indirectly a member\nor owner of such risk retention group.\n\nHISTORY: 1987, c. 585.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}