§ 38.2-1327 Time for hearing; order of Commission
A. Any hearing held pursuant to § 38.2-1326 shall begin within 40 days of the date the application is filed with the Commission. In approving any application filed pursuant to § 38.2-1323, the Commission may include in its order any conditions, stipulations, or provisions that the Commission determines to be necessary to protect the interests of the policyholders of the insurer and the public.
B. The Commission may retain at the acquiring person’s expense any attorneys, actuaries, accountants, and other experts not otherwise a part of the Commission’s staff as may be reasonably necessary to assist the Commission in reviewing the proposed acquisition of control.
History
This law was first created in 1977. The record of its establishment is cataloged in chapter 414 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. Unfortunately, the 1977 “Acts” aren’t available online. It has been modified 2 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1986, chapter 562; in 2014, chapter 309.
1977, c. 414, § 38.1-178.1:6; 1986, c. 562; 2014, c. 309.