{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/12.1-10.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/12.1-10.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/12.1-10.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/12.1-10.html"}],"law_id":80351,"edition_id":1,"section_id":80351,"structure_id":14952,"section_number":"12.1-10","catch_line":"Prohibited conflicts of interests","history":"Code 1950, \u00a7 12-13; 1971, Ex. Sess., c. 157; 1994, c. 181; 1996, c. 77; 2011, c. 163; 2013, c. 94.","full_text":"A\n\nAs used in this section, “member of the immediate family of a member, subordinate, or employee of the Commission” means (i) a spouse of a member, subordinate, or employee of the Commission or (ii) any other person who resides in the same household as a member, subordinate, or employee of the Commission and (a) who is a dependent of a member, subordinate, or employee of the Commission or (b) of whom a member, subordinate, or employee of the Commission is a dependent.B\n\nThe members of the Commission and its subordinates and employees shall not, directly or indirectly, own any securities of, have any pecuniary interest in, or hold any position with any entity whose rates, services, or financial ability to meet its obligations to the public are subject to supervision or regulation by the Commission; nor shall any such person having a license or certificate to practice law engage in the private practice of law except by approval of the Commission on a pro bono publico basis. If a member of the immediate family of a member, subordinate, or employee of the Commission is employed by any entity whose rates, services, or financial ability to meet its obligations to the public is subject to supervision or regulation by the Commission, the member, subordinate, or employee of the Commission shall recuse himself from and not participate in any regulatory matter at the Commission in which such entity is a party.C\n\nThis section shall not prevent any such person from being a policyholder in any insurance company; from being a depositor in any bank, savings institution, or similar institution; or from being a holder of a security issued by a unit investment trust or management company as those terms are defined in the Investment Company Act of 1940 and in accordance with such rules as the Commission may adopt.D\n\nAny member of the Commission who violates this section may be censured or removed from office in the manner provided by Article VI, Section 10 of the Constitution of Virginia. Any subordinate or employee of the Commission who violates this section may be removed from office by the Commission.","order_by":null,"text":{"0":{"id":287807,"text":"As used in this section, “member of the immediate family of a member, subordinate, or employee of the Commission” means (i) a spouse of a member, subordinate, or employee of the Commission or (ii) any other person who resides in the same household as a member, subordinate, or employee of the Commission and (a) who is a dependent of a member, subordinate, or employee of the Commission or (b) of whom a member, subordinate, or employee of the Commission is a dependent.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":287808,"text":"The members of the Commission and its subordinates and employees shall not, directly or indirectly, own any securities of, have any pecuniary interest in, or hold any position with any entity whose rates, services, or financial ability to meet its obligations to the public are subject to supervision or regulation by the Commission; nor shall any such person having a license or certificate to practice law engage in the private practice of law except by approval of the Commission on a pro bono publico basis. If a member of the immediate family of a member, subordinate, or employee of the Commission is employed by any entity whose rates, services, or financial ability to meet its obligations to the public is subject to supervision or regulation by the Commission, the member, subordinate, or employee of the Commission shall recuse himself from and not participate in any regulatory matter at the Commission in which such entity is a party.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":287809,"text":"This section shall not prevent any such person from being a policyholder in any insurance company; from being a depositor in any bank, savings institution, or similar institution; or from being a holder of a security issued by a unit investment trust or management company as those terms are defined in the Investment Company Act of 1940 and in accordance with such rules as the Commission may adopt.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":287810,"text":"Any member of the Commission who violates this section may be censured or removed from office in the manner provided by Article VI, Section 10 of the Constitution of Virginia. Any subordinate or employee of the Commission who violates this section may be removed from office by the Commission.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":14952,"edition_id":1,"name":"Members of the Commission","identifier":"2","label":"chapter","depth":2,"order_by":1,"parent_id":14329,"metadata":{},"date_created":"2026-06-26 03:51:02","date_modified":"2026-06-26 03:51:02","permalink":{"id":147309,"object_type":"structure","relational_id":14952,"identifier":"2","token":"12.1\/2","url":"\/12.1\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14329,"edition_id":1,"name":"State Corporation Commission","identifier":"12.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:47:46","date_modified":"2026-06-26 03:47:46","permalink":{"id":147285,"object_type":"structure","relational_id":14329,"identifier":"12.1","token":"12.1","url":"\/12.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":80351,"structure_id":14952,"section_number":"12.1-10","catch_line":"Prohibited conflicts of interests","url":"\/12.1-10\/","token":"12.1\/2\/12.1-10","metadata":false},{"id":75702,"structure_id":14952,"section_number":"12.1-11","catch_line":"Oath; failure to qualify","url":"\/12.1-11\/","token":"12.1\/2\/12.1-11","metadata":false},{"id":57048,"structure_id":14952,"section_number":"12.1-11.1","catch_line":"Temporary recall of members","url":"\/12.1-11.1\/","token":"12.1\/2\/12.1-11.1","metadata":false},{"id":66455,"structure_id":14952,"section_number":"12.1-6","catch_line":"Election or appointment of members; terms","url":"\/12.1-6\/","token":"12.1\/2\/12.1-6","metadata":false},{"id":80579,"structure_id":14952,"section_number":"12.1-7","catch_line":"Chairman","url":"\/12.1-7\/","token":"12.1\/2\/12.1-7","metadata":false},{"id":85427,"structure_id":14952,"section_number":"12.1-8","catch_line":"Quorum of members","url":"\/12.1-8\/","token":"12.1\/2\/12.1-8","metadata":false},{"id":82183,"structure_id":14952,"section_number":"12.1-9","catch_line":"Eligibility and qualifications of members","url":"\/12.1-9\/","token":"12.1\/2\/12.1-9","metadata":false}],"next_section":{"id":75702,"structure_id":14952,"section_number":"12.1-11","catch_line":"Oath; failure to qualify","url":"\/12.1-11\/","token":"12.1\/2\/12.1-11","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/12.1-10\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 4 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1994, chapter 181<\/a>; in 1996, chapter 77<\/a>; in 2011, chapter 163<\/a>; in 2013, chapter 94<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":147311,"object_type":"law","relational_id":80351,"identifier":"12.1-10","token":"12.1\/2\/12.1-10","url":"\/12.1-10\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/12.1-10\/","token":"12.1\/2\/12.1-10","dublin_core":{"Title":"Prohibited conflicts of interests","Type":"Text","Format":"text\/html","Identifier":"\u00a7 12.1-10","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> As used in this section, “member of the immediate family of a member, subordinate, or employee of the Commission<\/span>” means (i) a spouse of a member, subordinate, or employee of the Commission or (ii) any other person who resides in the same household as a member, subordinate, or employee of the Commission and (a) who is a dependent of a member, subordinate, or employee of the Commission or (b) of whom a member, subordinate, or employee of the Commission is a dependent. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The members of the Commission and its subordinates and employees shall not, directly or indirectly, own any securities of, have any pecuniary interest in, or hold any position with any entity whose rates, services, or financial ability to meet its obligations to the public are subject to supervision or regulation by the Commission; nor shall any such person having a license or certificate to practice law<\/span> engage in the private practice of law<\/span> except by approval of the Commission on a pro bono publico basis. If a member of the immediate family of a member, subordinate, or employee of the Commission<\/span> is employed by any entity whose rates, services, or financial ability to meet its obligations to the public is subject to supervision or regulation by the Commission, the member, subordinate, or employee of the Commission shall recuse<\/span> himself from and not participate in any regulatory matter at the Commission in which such entity is a party<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> This section shall not prevent any such person from being a policyholder in any insurance company; from being a depositor in any bank, savings institution, or similar institution; or from being a holder of a security issued by a unit investment trust or management company as those terms are defined in the Investment Company Act of 1940 and in accordance with such rules as the Commission may adopt. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Any member of the Commission who violates this section may be censured or removed from office in the manner provided by Article VI, Section 10 of the Constitution of Virginia. Any subordinate or employee of the Commission who violates this section may be removed from office by the Commission. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPROHIBITED CONFLICTS OF INTERESTS (\u00a7 12.1-10)\n\nA. As used in this section, “member of the immediate family of a member,\nsubordinate, or employee of the Commission” means (i) a spouse of a\nmember, subordinate, or employee of the Commission or (ii) any other person who\nresides in the same household as a member, subordinate, or employee of the\nCommission and (a) who is a dependent of a member, subordinate, or employee of\nthe Commission or (b) of whom a member, subordinate, or employee of the\nCommission is a dependent.\n\nB. The members of the Commission and its subordinates and employees shall not,\ndirectly or indirectly, own any securities of, have any pecuniary interest in,\nor hold any position with any entity whose rates, services, or financial ability\nto meet its obligations to the public are subject to supervision or regulation\nby the Commission; nor shall any such person having a license or certificate to\npractice law engage in the private practice of law except by approval of the\nCommission on a pro bono publico basis. If a member of the immediate family of a\nmember, subordinate, or employee of the Commission is employed by any entity\nwhose rates, services, or financial ability to meet its obligations to the\npublic is subject to supervision or regulation by the Commission, the member,\nsubordinate, or employee of the Commission shall recuse himself from and not\nparticipate in any regulatory matter at the Commission in which such entity is a\nparty.\n\nC. This section shall not prevent any such person from being a policyholder in\nany insurance company; from being a depositor in any bank, savings institution,\nor similar institution; or from being a holder of a security issued by a unit\ninvestment trust or management company as those terms are defined in the\nInvestment Company Act of 1940 and in accordance with such rules as the\nCommission may adopt.\n\nD. Any member of the Commission who violates this section may be censured or\nremoved from office in the manner provided by Article VI, Section 10 of the\nConstitution of Virginia. Any subordinate or employee of the Commission who\nviolates this section may be removed from office by the Commission.\n\nHISTORY: Code 1950, \u00a7 12-13; 1971, Ex. Sess., c. 157; 1994, c. 181; 1996, c.\n77; 2011, c. 163; 2013, c. 94.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}