Code of Virginia - Title 38.2 Insurance - Section 38.2-701 When director of a domestic insurer may be a director of another insurer

§ 38.2-701. When director of a domestic insurer may be a director of another insurer

Any domestic insurer may have a director who is also a director of another domestic, foreign or alien insurer, unless the effect thereof (i) substantially lessens competition generally or (ii) tends to create a monopoly, in the business of insurance.

(1952, c. 317, § 38.1-59; 1986, c. 562.)

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Last modified: April 3, 2009