§ 38.2-1020. Transfer of domicile from Virginia to another state
Any domestic insurer, upon the approval of the Commission, may transfer its domicile from this Commonwealth to any other state in which it is licensed to transact the business of insurance. The Commission may approve the proposed transfer of domicile if it determines that the transfer is in the best interests of the insurer's policyholders and this Commonwealth. If the Commission does not approve the transfer, it shall give the insurer written notice of the refusal and the reasons for it within thirty days after the date the request for transfer was made. If the request for transfer is granted and the insurer is otherwise qualified, it may transact the business of insurance in this Commonwealth as a foreign insurer without interruption in licensing.
(1983, c. 441, § 38.1-950; 1986, c. 562.)Sections: Previous 38.2-1014 38.2-1015 38.2-1016 38.2-1016.1 38.2-1017 38.2-1018 38.2-1019 38.2-1020 38.2-1021 38.2-1022 38.2-1023 38.2-1024 38.2-1025 38.2-1026 38.2-1027 Next
Last modified: April 3, 2009