§ 38.2-4517. Licensing of nonstock corporation
A. No person shall operate a dental or optometric services plan in this Commonwealth without a license issued by the Commission. Each nonstock corporation shall apply for a license and furnish any relevant information the Commission requires. Each license shall expire at midnight on the following June 30. Application for a license shall be accompanied by a nonrefundable application fee of $500.
B. The Commission shall not issue to or renew a license of a nonstock corporation unless it is satisfied that the financial condition, the method of operation, and the manner of doing business of the nonstock corporation enable it to meet its contractual obligations to all subscribers and that the nonstock corporation has otherwise complied with all the requirements of law.
(1980, c. 682, § 38.1-906; 1986, c. 562; 1987, cc. 565, 655; 1994, c. 503.)Sections: Previous 38.2-4509.1 38.2-4510 38.2-4511 38.2-4512 38.2-4513 38.2-4514 38.2-4515 38.2-4516 38.2-4517 38.2-4518 38.2-4519 38.2-4520 38.2-4521 38.2-4522 38.2-4523 Next
Last modified: April 3, 2009