{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1101.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1101.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1101.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1101.html"}],"law_id":62853,"edition_id":1,"section_id":62853,"structure_id":15916,"section_number":"38.2-1101","catch_line":"Definitions","history":"1980, c. 665, \u00a7 38.1-917; 1981, c. 494; 1986, c. 562.","full_text":"As used in this chapter:\n\t\t“Affiliated company” means (i) any company that directly or indirectly owns, controls, or holds, with power to vote, ten percent or more of the outstanding voting securities of a pure captive insurer, or (ii) any company of which ten percent or more of the voting securities are directly or indirectly owned, controlled, or held, with power to vote, by a parent, subsidiary, or associated company.\n\t\t“Associated company” means any company in the same corporate system with a pure captive insurer.\n\t\t“Association captive insurer” means any domestic insurer transacting the business of insurance and reinsurance only on risks, hazards, and liabilities of the members of an insurance association.\n\t\t“Captive insurer” means any pure captive insurer or any association captive insurer.\n\t\t“Insurance association” means any group of individuals, corporations, partnerships, associations, or governmental units or agencies whose members collectively own, control, or hold with power to vote all of the outstanding voting securities of an association captive insurer.\n\t\t“Parent” means a corporation, partnership, governmental unit or agency, or individual who directly or indirectly owns, controls or holds, with power to vote, more than fifty percent of the outstanding voting securities of a pure captive insurer.\n\t\t“Pure captive insurer” means any domestic insurer transacting the business of insurance and reinsurance only on risks, hazards, and liabilities of its parent, subsidiary companies of its parent, and associated and affiliated companies.\n\t\t“Subsidiary company” means any corporation of which fifty percent or more of the outstanding voting securities are directly or indirectly owned, controlled, or held, with power to vote, by a parent or by a company that is a subsidiary of the parent.","order_by":null,"text":{"0":{"id":229116,"text":"As used in this chapter:\n\t\t“Affiliated company” means (i) any company that directly or indirectly owns, controls, or holds, with power to vote, ten percent or more of the outstanding voting securities of a pure captive insurer, or (ii) any company of which ten percent or more of the voting securities are directly or indirectly owned, controlled, or held, with power to vote, by a parent, subsidiary, or associated company.\n\t\t“Associated company” means any company in the same corporate system with a pure captive insurer.\n\t\t“Association captive insurer” means any domestic insurer transacting the business of insurance and reinsurance only on risks, hazards, and liabilities of the members of an insurance association.\n\t\t“Captive insurer” means any pure captive insurer or any association captive insurer.\n\t\t“Insurance association” means any group of individuals, corporations, partnerships, associations, or governmental units or agencies whose members collectively own, control, or hold with power to vote all of the outstanding voting securities of an association captive insurer.\n\t\t“Parent” means a corporation, partnership, governmental unit or agency, or individual who directly or indirectly owns, controls or holds, with power to vote, more than fifty percent of the outstanding voting securities of a pure captive insurer.\n\t\t“Pure captive insurer” means any domestic insurer transacting the business of insurance and reinsurance only on risks, hazards, and liabilities of its parent, subsidiary companies of its parent, and associated and affiliated companies.\n\t\t“Subsidiary company” means any corporation of which fifty percent or more of the outstanding voting securities are directly or indirectly owned, controlled, or held, with power to vote, by a parent or by a company that is a subsidiary of the parent.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15916,"edition_id":1,"name":"Captive Insurers","identifier":"11","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 04:01:50","date_modified":"2026-06-26 04:01:50","permalink":{"id":211171,"object_type":"structure","relational_id":15916,"identifier":"11","token":"38.2\/11","url":"\/38.2\/11\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12698,"edition_id":1,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":210661,"object_type":"structure","relational_id":12698,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":65109,"structure_id":15916,"section_number":"38.2-1100","catch_line":"Scope of chapter","url":"\/38.2-1100\/","token":"38.2\/11\/38.2-1100","metadata":false},{"id":62853,"structure_id":15916,"section_number":"38.2-1101","catch_line":"Definitions","url":"\/38.2-1101\/","token":"38.2\/11\/38.2-1101","metadata":false},{"id":75949,"structure_id":15916,"section_number":"38.2-1102","catch_line":"Application for license; limitations on authority","url":"\/38.2-1102\/","token":"38.2\/11\/38.2-1102","metadata":false},{"id":83328,"structure_id":15916,"section_number":"38.2-1103","catch_line":"Name","url":"\/38.2-1103\/","token":"38.2\/11\/38.2-1103","metadata":false},{"id":84000,"structure_id":15916,"section_number":"38.2-1104","catch_line":"Formation; licensure after examination; amendment of articles; principal and home office","url":"\/38.2-1104\/","token":"38.2\/11\/38.2-1104","metadata":false},{"id":66651,"structure_id":15916,"section_number":"38.2-1105","catch_line":"Deposit of minimum capital; letter of credit instead of deposit","url":"\/38.2-1105\/","token":"38.2\/11\/38.2-1105","metadata":false},{"id":83845,"structure_id":15916,"section_number":"38.2-1106","catch_line":"Minimum surplus in form of letter of credit","url":"\/38.2-1106\/","token":"38.2\/11\/38.2-1106","metadata":false},{"id":77376,"structure_id":15916,"section_number":"38.2-1107","catch_line":"Membership in rating organizations","url":"\/38.2-1107\/","token":"38.2\/11\/38.2-1107","metadata":false},{"id":61754,"structure_id":15916,"section_number":"38.2-1108","catch_line":"Tax on premiums collected","url":"\/38.2-1108\/","token":"38.2\/11\/38.2-1108","metadata":false},{"id":73669,"structure_id":15916,"section_number":"38.2-1109","catch_line":"Applicability of other provisions of title","url":"\/38.2-1109\/","token":"38.2\/11\/38.2-1109","metadata":false}],"previous_section":{"id":65109,"structure_id":15916,"section_number":"38.2-1100","catch_line":"Scope of chapter","url":"\/38.2-1100\/","token":"38.2\/11\/38.2-1100","metadata":false},"next_section":{"id":75949,"structure_id":15916,"section_number":"38.2-1102","catch_line":"Application for license; limitations on authority","url":"\/38.2-1102\/","token":"38.2\/11\/38.2-1102","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1101\/","history_text":"

This law was first created in 1980. The record of its establishment is cataloged in chapter 665 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1980 \u201cActs\u201d aren\u2019t available online. It has been modified 2 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 1981, chapter 494; in 1986, chapter 562.<\/p>","references":false,"refers_to":false,"permalink":{"id":211177,"object_type":"law","relational_id":62853,"identifier":"38.2-1101","token":"38.2\/11\/38.2-1101","url":"\/38.2-1101\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1101\/","token":"38.2\/11\/38.2-1101","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1101","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

As used in this chapter:\n\t\t“Affiliated company<\/span>” means (i) any company that directly or indirectly owns, controls, or holds, with power to vote, ten percent or more of the outstanding voting securities of a pure captive insurer<\/span>, or (ii) any company of which ten percent or more of the voting securities are directly or indirectly owned, controlled, or held, with power to vote, by a parent<\/span>, subsidiary, or associated company<\/span>.\n\t\t“Associated company<\/span>” means any company in the same corporate system with a pure captive insurer<\/span>.\n\t\t“Association captive insurer<\/span>” means any domestic insurer transacting the business of insurance and reinsurance only on risks, hazards, and liabilities of the members of an insurance association<\/span>.\n\t\t“Captive insurer” means any pure captive insurer<\/span> or any association captive insurer<\/span>.\n\t\t“Insurance association<\/span>” means any group of individuals, corporations, partnerships, associations, or governmental units or agencies whose members collectively own, control, or hold with power to vote all of the outstanding voting securities of an association captive insurer<\/span>.\n\t\t“Parent<\/span>” means a corporation, partnership, governmental unit or agency, or individual who directly or indirectly owns, controls or holds, with power to vote, more than fifty percent of the outstanding voting securities of a pure captive insurer<\/span>.\n\t\t“Pure captive insurer<\/span>” means any domestic insurer transacting the business of insurance and reinsurance only on risks, hazards, and liabilities of its parent<\/span>, subsidiary companies of its parent<\/span>, and associated and affiliated companies.\n\t\t“Subsidiary company<\/span>” means any corporation of which fifty percent or more of the outstanding voting securities are directly or indirectly owned, controlled, or held, with power to vote, by a parent<\/span> or by a company that is a subsidiary of the parent<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 38.2-1101)\n\nAs used in this chapter:\n\t\t“Affiliated company” means (i) any company that directly or\nindirectly owns, controls, or holds, with power to vote, ten percent or more of\nthe outstanding voting securities of a pure captive insurer, or (ii) any company\nof which ten percent or more of the voting securities are directly or indirectly\nowned, controlled, or held, with power to vote, by a parent, subsidiary, or\nassociated company.\n\t\t“Associated company” means any company in the same corporate\nsystem with a pure captive insurer.\n\t\t“Association captive insurer” means any domestic insurer\ntransacting the business of insurance and reinsurance only on risks, hazards,\nand liabilities of the members of an insurance association.\n\t\t“Captive insurer” means any pure captive insurer or any\nassociation captive insurer.\n\t\t“Insurance association” means any group of individuals,\ncorporations, partnerships, associations, or governmental units or agencies\nwhose members collectively own, control, or hold with power to vote all of the\noutstanding voting securities of an association captive insurer.\n\t\t“Parent” means a corporation, partnership, governmental unit or\nagency, or individual who directly or indirectly owns, controls or holds, with\npower to vote, more than fifty percent of the outstanding voting securities of a\npure captive insurer.\n\t\t“Pure captive insurer” means any domestic insurer transacting the\nbusiness of insurance and reinsurance only on risks, hazards, and liabilities of\nits parent, subsidiary companies of its parent, and associated and affiliated\ncompanies.\n\t\t“Subsidiary company” means any corporation of which fifty percent\nor more of the outstanding voting securities are directly or indirectly owned,\ncontrolled, or held, with power to vote, by a parent or by a company that is a\nsubsidiary of the parent.\n\nHISTORY: 1980, c. 665, \u00a7 38.1-917; 1981, c. 494; 1986, c. 562.","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}}