{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/38.2-1504.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/38.2-1504.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/38.2-1504.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/38.2-1504.html"}],"law_id":361470,"edition_id":2,"section_id":361470,"structure_id":51682,"section_number":"38.2-1504","catch_line":"Requirements when proceedings instituted by any person other than Commission","history":"1952, c. 317, \u00a7 38.1-130; 1986, c. 562.","full_text":"A\n\nNo circuit court in this Commonwealth shall appoint a receiver for any domestic insurer on application of any person other than the Commission until:\n\n1\n\nThe applicant has presented to the Commission a copy of a bill in equity for receivership and has given reasonable notice to the affected insurer that a copy of the bill has been presented to the Commission.\n\n2\n\nThe affected insurer has been given ten days after the service of this notice to present to the Commission a copy of the answer that it proposes to file.\n\n3\n\nThe Commission has investigated the merits of the application for receivership and has held a hearing on the results of the investigation. The Commission shall act within a reasonable period of time.\n\n4\n\nWithin a reasonable time after completing its investigation, the Commission shall make a recommendation to the proper court regarding the appointment of the proposed receiver.\n\nB\n\nThe court shall appoint or refuse to appoint the proposed receiver after considering the merits of the application for a receiver.\n\n","order_by":null,"text":{"0":{"id":1345392,"text":"No circuit court in this Commonwealth shall appoint a receiver for any domestic insurer on application of any person other than the Commission until:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":1345393,"text":"The applicant has presented to the Commission a copy of a bill in equity for receivership and has given reasonable notice to the affected insurer that a copy of the bill has been presented to the Commission.","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":1345394,"text":"The affected insurer has been given ten days after the service of this notice to present to the Commission a copy of the answer that it proposes to file.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":1345395,"text":"The Commission has investigated the merits of the application for receivership and has held a hearing on the results of the investigation. The Commission shall act within a reasonable period of time.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":1345396,"text":"Within a reasonable time after completing its investigation, the Commission shall make a recommendation to the proper court regarding the appointment of the proposed receiver.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"B"},"5":{"id":1345397,"text":"The court shall appoint or refuse to appoint the proposed receiver after considering the merits of the application for a receiver.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A4"}},"ancestry":[{"id":51682,"edition_id":2,"name":"Rehabilitation and Liquidation of Insurers","identifier":"15","label":"chapter","depth":2,"order_by":15,"parent_id":51644,"metadata":{"child_laws":23,"child_structures":0},"date_created":"2026-08-02 02:46:19","date_modified":"2026-08-02 12:33:03","permalink":{"id":1439119,"object_type":"structure","relational_id":51682,"identifier":"15","token":"38.2\/15","url":"\/38.2\/15\/","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":361466,"structure_id":51682,"section_number":"38.2-1500","catch_line":"Scope of chapter","url":"\/38.2-1500\/","token":"38.2\/15\/38.2-1500","metadata":false},{"id":361467,"structure_id":51682,"section_number":"38.2-1501","catch_line":"Definitions","url":"\/38.2-1501\/","token":"38.2\/15\/38.2-1501","metadata":false},{"id":361468,"structure_id":51682,"section_number":"38.2-1502","catch_line":"Jurisdiction and procedure","url":"\/38.2-1502\/","token":"38.2\/15\/38.2-1502","metadata":false},{"id":361469,"structure_id":51682,"section_number":"38.2-1503","catch_line":"Grounds for delinquency proceedings commenced by Commission against domestic insurer","url":"\/38.2-1503\/","token":"38.2\/15\/38.2-1503","metadata":false},{"id":361470,"structure_id":51682,"section_number":"38.2-1504","catch_line":"Requirements when proceedings instituted by any person other than Commission","url":"\/38.2-1504\/","token":"38.2\/15\/38.2-1504","metadata":false},{"id":361471,"structure_id":51682,"section_number":"38.2-1505","catch_line":"Commission may apply for receiver and for other relief; what orders court may enter","url":"\/38.2-1505\/","token":"38.2\/15\/38.2-1505","metadata":false},{"id":361472,"structure_id":51682,"section_number":"38.2-1506","catch_line":"Requirements when receiver appointed; disbursement of available assets to association, etc","url":"\/38.2-1506\/","token":"38.2\/15\/38.2-1506","metadata":false},{"id":361473,"structure_id":51682,"section_number":"38.2-1507","catch_line":"Further procedure; injunction may be issued","url":"\/38.2-1507\/","token":"38.2\/15\/38.2-1507","metadata":false},{"id":361474,"structure_id":51682,"section_number":"38.2-1508","catch_line":"Powers of Commission when authorized to rehabilitate or liquidate companies","url":"\/38.2-1508\/","token":"38.2\/15\/38.2-1508","metadata":false},{"id":361475,"structure_id":51682,"section_number":"38.2-1509","catch_line":"Powers of Commission when authorized to rehabilitate or liquidate insurers by court order; disbursement of available assets to an association, etc","url":"\/38.2-1509\/","token":"38.2\/15\/38.2-1509","metadata":false},{"id":361476,"structure_id":51682,"section_number":"38.2-1510","catch_line":"Commission may appoint assistants in connection with rehabilitation or liquidation","url":"\/38.2-1510\/","token":"38.2\/15\/38.2-1510","metadata":false},{"id":361477,"structure_id":51682,"section_number":"38.2-1511","catch_line":"Borrowing on pledge of assets","url":"\/38.2-1511\/","token":"38.2\/15\/38.2-1511","metadata":false},{"id":361478,"structure_id":51682,"section_number":"38.2-1512","catch_line":"Rights and liabilities fixed upon liquidation","url":"\/38.2-1512\/","token":"38.2\/15\/38.2-1512","metadata":false},{"id":361479,"structure_id":51682,"section_number":"38.2-1513","catch_line":"Voidable transfers","url":"\/38.2-1513\/","token":"38.2\/15\/38.2-1513","metadata":false},{"id":361480,"structure_id":51682,"section_number":"38.2-1514","catch_line":"Priority of claims for wages","url":"\/38.2-1514\/","token":"38.2\/15\/38.2-1514","metadata":false},{"id":361481,"structure_id":51682,"section_number":"38.2-1515","catch_line":"Mutual debts or credits, how treated","url":"\/38.2-1515\/","token":"38.2\/15\/38.2-1515","metadata":false},{"id":361482,"structure_id":51682,"section_number":"38.2-1516","catch_line":"Receivers to file reports, etc., with Commission","url":"\/38.2-1516\/","token":"38.2\/15\/38.2-1516","metadata":false},{"id":361483,"structure_id":51682,"section_number":"38.2-1517","catch_line":"What included in annual report of Commission","url":"\/38.2-1517\/","token":"38.2\/15\/38.2-1517","metadata":false},{"id":361484,"structure_id":51682,"section_number":"38.2-1518","catch_line":"Rehabilitation or mutualization of companies","url":"\/38.2-1518\/","token":"38.2\/15\/38.2-1518","metadata":false},{"id":361485,"structure_id":51682,"section_number":"38.2-1519","catch_line":"Termination of rehabilitation; when liquidation may be entered","url":"\/38.2-1519\/","token":"38.2\/15\/38.2-1519","metadata":false},{"id":361486,"structure_id":51682,"section_number":"38.2-1520","catch_line":"Liquidation of alien insurers","url":"\/38.2-1520\/","token":"38.2\/15\/38.2-1520","metadata":false},{"id":361487,"structure_id":51682,"section_number":"38.2-1521","catch_line":"Conservation of assets of foreign or alien insurer; when liquidation may be entered","url":"\/38.2-1521\/","token":"38.2\/15\/38.2-1521","metadata":false},{"id":361488,"structure_id":51682,"section_number":"38.2-1522","catch_line":"Qualified financial contracts","url":"\/38.2-1522\/","token":"38.2\/15\/38.2-1522","metadata":false}],"previous_section":{"id":361469,"structure_id":51682,"section_number":"38.2-1503","catch_line":"Grounds for delinquency proceedings commenced by Commission against domestic insurer","url":"\/38.2-1503\/","token":"38.2\/15\/38.2-1503","metadata":false},"next_section":{"id":361471,"structure_id":51682,"section_number":"38.2-1505","catch_line":"Commission may apply for receiver and for other relief; what orders court may enter","url":"\/38.2-1505\/","token":"38.2\/15\/38.2-1505","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1504\/","history_text":"<p>This law was first created in 1952. The record of its establishment is cataloged in chapter 317 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 1952 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 1986, chapter 562.<\/p>","references":[{"id":361472,"section_number":"38.2-1506","catch_line":"Requirements when receiver appointed; disbursement of available assets to association, etc","order_by":null,"url":"\/38.2-1506\/"}],"refers_to":false,"permalink":{"id":1439137,"object_type":"law","relational_id":361470,"identifier":"38.2-1504","token":"38.2\/15\/38.2-1504","url":"\/38.2-1504\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/38.2-1504\/","token":"38.2\/15\/38.2-1504","dublin_core":{"Title":"Requirements when proceedings instituted by any person other than Commission","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1504","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> No <span class=\"dictionary\">circuit<\/span> <span class=\"dictionary\">court<\/span> in this Commonwealth shall appoint a <span class=\"dictionary\">receiver<\/span> for any domestic <span class=\"dictionary\">insurer<\/span> on application of any <span class=\"dictionary\">person<\/span> other than the <span class=\"dictionary\">Commission<\/span> until: <a id=\"paragraph-1345392\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1504\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> The applicant has presented to the <span class=\"dictionary\">Commission<\/span> a copy of a bill in <span class=\"dictionary\">equity<\/span> for receivership and has given reasonable notice to the affected <span class=\"dictionary\">insurer<\/span> that a copy of the bill has been presented to the <span class=\"dictionary\">Commission<\/span>. <a id=\"paragraph-1345393\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1504\/#A1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> The affected <span class=\"dictionary\">insurer<\/span> has been given ten days after the service of this notice to present to the <span class=\"dictionary\">Commission<\/span> a copy of the answer that it proposes to file. <a id=\"paragraph-1345394\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1504\/#A2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A3\" class=\"indent-1\"><p><span class=\"prefix-number\">3.<\/span> The <span class=\"dictionary\">Commission<\/span> has investigated the merits of the application for receivership and has held a <span class=\"dictionary\">hearing<\/span> on the results of the investigation. The <span class=\"dictionary\">Commission<\/span> shall act within a reasonable period of time. <a id=\"paragraph-1345395\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1504\/#A3\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A4\" class=\"indent-1\"><p><span class=\"prefix-number\">4.<\/span> Within a reasonable time after completing its investigation, the <span class=\"dictionary\">Commission<\/span> shall make a recommendation to the proper <span class=\"dictionary\">court<\/span> regarding the appointment of the proposed <span class=\"dictionary\">receiver<\/span>. <a id=\"paragraph-1345396\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1504\/#A4\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> The <span class=\"dictionary\">court<\/span> shall appoint or refuse to appoint the proposed <span class=\"dictionary\">receiver<\/span> after considering the merits of the application for a <span class=\"dictionary\">receiver<\/span>. <a id=\"paragraph-1345397\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1504\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nREQUIREMENTS WHEN PROCEEDINGS INSTITUTED BY ANY PERSON OTHER THAN COMMISSION (\u00a7\n38.2-1504)\n\nA. No circuit court in this Commonwealth shall appoint a receiver for any\ndomestic insurer on application of any person other than the Commission until:\n\n   1. The applicant has presented to the Commission a copy of a bill in equity\n   for receivership and has given reasonable notice to the affected insurer that\n   a copy of the bill has been presented to the Commission.\n\n   2. The affected insurer has been given ten days after the service of this\n   notice to present to the Commission a copy of the answer that it proposes to\n   file.\n\n   3. The Commission has investigated the merits of the application for\n   receivership and has held a hearing on the results of the investigation. The\n   Commission shall act within a reasonable period of time.\n\n   4. Within a reasonable time after completing its investigation, the Commission\n   shall make a recommendation to the proper court regarding the appointment of\n   the proposed receiver.\n\nB. The court shall appoint or refuse to appoint the proposed receiver after\nconsidering the merits of the application for a receiver.\n\nHISTORY: 1952, c. 317, \u00a7 38.1-130; 1986, c. 562.","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"}}