§ 38.2-4704 Suspension, revocation or failure to renew license; imposition of penalty
The Commission may suspend, revoke or refuse to renew a license of any insurance premium finance company whenever it finds that:
1. The licensee has (i) failed to pay the annual license fee, (ii) violated or failed to comply with any of the provisions of this chapter or with any rule or regulation made by the Commission pursuant to this chapter, or (iii) violated or failed to comply with any order, demand, ruling, provision or requirement of the Commission lawfully made pursuant to or within the authority of this chapter; or
2. The licensee no longer meets the standards required for the initial issuance of a license.
History
This law was first created in 1964. The record of its establishment is cataloged in chapter 147 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 1964 “Acts” aren’t available online. It has been modified 1 time. 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. That modification is as follows: in 1986, chapter 562.
1964, c. 147, § 38.1-739; 1986, c. 562.