§ 38.2-1005.1:8 Diversion of business to affiliates
Without prior approval of the Commission, neither the converted company nor any person affiliated with or controlling the converted company shall divert business from the converted company to any insurance company affiliated with the converted company if the purpose or effect of such diversion would be to reduce significantly the number of members of the mutual holding company.
History
This law was first created in 2001. The record of its establishment is cataloged in chapter 726 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.
2001, c. 726.