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Management and exclusive agency contracts subject to approval by Commission (§ 38.2-203)
2016A For the purpose of this section, an insurer shall mean a stock or mutual insurer, cooperative nonprofit life benefit company, mutual assessment life, accident and sickness insurer, burial society, fraternal benefit society, mutual assessment proper . . .
What constitutes appointment of agent for service of process (§ 38.2-813)
2016The Clerk of the Commission shall be deemed to be appointed by any unlicensed public adjuster as its agent for the service of process pursuant to § 13.1-758 if any of the following acts are effected by mail or otherwise in the Commonwealth by such u . . .
License required of consultants (§ 38.2-1838)
2016A No person, unless he holds an appropriate license shall: B Each individual applying for an insurance consultant’s license shall apply to the Commission in a form acceptable to the Commission, and shall provide satisfactory evidence of having . . .
Same; policies issued on or after January 1, 1986 (§ 38.2-3212)
2016A This section, in addition to all other applicable sections of law, shall apply to all policies issued on or after January 1, 1986. Any cash surrender value available under the policy in the event of default in a premium payment due on any policy an . . .
Deposit of trust funds not an investment; authorized deposits (§ 51.1-124.33)
2016The Board may authorize the deposit of trust funds in interest-bearing time deposits and certificates of deposit of national banks located within the Commonwealth, of banks organized pursuant to Chapter 8 (§ 6.2-800 et seq.) of Title 6.2, of savings . . .
Assessment contract (§ 38.2-2518)
2016Each person insured by a mutual assessment property and casualty insurer shall be issued a contract prescribed by the insurer, that shall be uniform among members of the respective classes of insurance written by the insurer. Each member shall agree . . .
Licensure (§ 38.2-1359)
2016A No domestic insurer shall permit a person to act, and no person shall act, in the capacity of a managing general agent for an insurer domiciled in this Commonwealth unless such person is licensed in this Commonwealth to act as a managing general ag . . .
Trust agreements (§ 53.1-95.11)
2016In the discretion of an authority created pursuant to this article, any bonds issued under the provisions of this article may be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company or bank . . .
Nonforfeiture benefits and cash surrender values (§ 38.2-3309)
2016A Each individual life insurance policy shall contain a provision for nonforfeiture benefits. The provision shall specify the options to which the policyowner is entitled, in accordance with the requirements of § 38.2-3202. B Each individual life i . . .
Appointments of agents (§ 38.2-1833)
2016A Subject to the requirement of § 38.2-1801, every licensed agent may sell policies and solicit applications for insurance for any one or more of the classes of insurance for which he is licensed on behalf of an insurer (i) also licensed in this Com . . .