{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1332.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1332.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1332.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1332.html"}],"law_id":84275,"edition_id":1,"section_id":84275,"structure_id":13290,"section_number":"38.2-1332","catch_line":"Examinations","history":"1973, c. 505, \u00a7 38.1-178.4; 1986, c. 562; 1992, c. 588; 2014, c. 309.","full_text":"A\n\nIn addition to the powers the Commission has under Article 4 (§ 38.2-1317 et seq.), the Commission shall have the power to examine any insurer registered under § 38.2-1329 and its affiliates to ascertain the financial condition of the insurer, including the enterprise risk to the insurer by the ultimate controlling party, or by any entity or combination of entities within the insurance holding company system, or by the insurance holding company system on a consolidated basis.B\n\nThe Commission may order any insurer registered under § 38.2-1329 to produce such records, books, or other information papers in the possession of the insurer or its affiliates as are reasonably necessary to determine compliance with this article.C\n\nTo determine compliance with this article, the Commission may order any insurer registered under § 38.2-1329 to produce information not in the possession of the insurer if the insurer can obtain access to such information pursuant to contractual relationships, statutory obligations, or other method. In the event the insurer cannot obtain the information requested by the Commission, the insurer shall provide the Commission a detailed explanation of the reason that the insurer cannot obtain the information and the identity of the holder of such information. Whenever it appears to the Commission that the detailed explanation is without merit, the Commission may require, after notice and hearing, the insurer to pay a penalty pursuant to § 38.2-218 for each day’s delay or may suspend or revoke the insurer’s license.D\n\nThe Commission may retain at the registered insurer’s expense any attorneys, actuaries, accountants and other experts reasonably necessary to assist in the conduct of the examination under subsection A. Any persons so retained shall be under the direction and control of the Commission and shall act in a purely advisory capacity.E\n\nEach insurer producing books and papers for examination records pursuant to subsection B shall be liable for and shall pay the expense of the examination in accordance with the provisions of Article 4 (§ 38.2-1317 et seq.).F\n\nIn the event the insurer fails to comply with an order, the Commission shall have the power to examine the affiliates to obtain the information.","order_by":null,"text":{"0":{"id":302117,"text":"In addition to the powers the Commission has under Article 4 (§ 38.2-1317 et seq.), the Commission shall have the power to examine any insurer registered under § 38.2-1329 and its affiliates to ascertain the financial condition of the insurer, including the enterprise risk to the insurer by the ultimate controlling party, or by any entity or combination of entities within the insurance holding company system, or by the insurance holding company system on a consolidated basis.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":302118,"text":"The Commission may order any insurer registered under § 38.2-1329 to produce such records, books, or other information papers in the possession of the insurer or its affiliates as are reasonably necessary to determine compliance with this article.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":302119,"text":"To determine compliance with this article, the Commission may order any insurer registered under § 38.2-1329 to produce information not in the possession of the insurer if the insurer can obtain access to such information pursuant to contractual relationships, statutory obligations, or other method. In the event the insurer cannot obtain the information requested by the Commission, the insurer shall provide the Commission a detailed explanation of the reason that the insurer cannot obtain the information and the identity of the holder of such information. Whenever it appears to the Commission that the detailed explanation is without merit, the Commission may require, after notice and hearing, the insurer to pay a penalty pursuant to § 38.2-218 for each day’s delay or may suspend or revoke the insurer’s license.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":302120,"text":"The Commission may retain at the registered insurer’s expense any attorneys, actuaries, accountants and other experts reasonably necessary to assist in the conduct of the examination under subsection A. Any persons so retained shall be under the direction and control of the Commission and shall act in a purely advisory capacity.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":302121,"text":"Each insurer producing books and papers for examination records pursuant to subsection B shall be liable for and shall pay the expense of the examination in accordance with the provisions of Article 4 (§ 38.2-1317 et seq.).","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":302122,"text":"In the event the insurer fails to comply with an order, the Commission shall have the power to examine the affiliates to obtain the information.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":13290,"edition_id":1,"name":"Insurance Holding Companies","identifier":"5","label":"article","depth":3,"order_by":1,"parent_id":13289,"metadata":{},"date_created":"2026-06-26 03:44:35","date_modified":"2026-06-26 03:44:35","permalink":{"id":211609,"object_type":"structure","relational_id":13290,"identifier":"5","token":"38.2\/13\/5","url":"\/38.2\/13\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13289,"edition_id":1,"name":"Reports, Reserves and Examinations, Insurance Holding Companies, Reinsurance Intermediaries, and Managing General Agents","identifier":"13","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:44:35","date_modified":"2026-06-26 03:44:35","permalink":{"id":211347,"object_type":"structure","relational_id":13289,"identifier":"13","token":"38.2\/13","url":"\/38.2\/13\/","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":66587,"structure_id":13290,"section_number":"38.2-1322","catch_line":"Definitions","url":"\/38.2-1322\/","token":"38.2\/13\/5\/38.2-1322","metadata":false},{"id":84939,"structure_id":13290,"section_number":"38.2-1323","catch_line":"Acquisition of control of insurers","url":"\/38.2-1323\/","token":"38.2\/13\/5\/38.2-1323","metadata":false},{"id":72444,"structure_id":13290,"section_number":"38.2-1324","catch_line":"Contents of application","url":"\/38.2-1324\/","token":"38.2\/13\/5\/38.2-1324","metadata":false},{"id":77095,"structure_id":13290,"section_number":"38.2-1325","catch_line":"Alternate filing materials","url":"\/38.2-1325\/","token":"38.2\/13\/5\/38.2-1325","metadata":false},{"id":54281,"structure_id":13290,"section_number":"38.2-1326","catch_line":"Approval by Commission","url":"\/38.2-1326\/","token":"38.2\/13\/5\/38.2-1326","metadata":false},{"id":82872,"structure_id":13290,"section_number":"38.2-1327","catch_line":"Time for hearing; order of Commission","url":"\/38.2-1327\/","token":"38.2\/13\/5\/38.2-1327","metadata":false},{"id":65563,"structure_id":13290,"section_number":"38.2-1328","catch_line":"Exemption","url":"\/38.2-1328\/","token":"38.2\/13\/5\/38.2-1328","metadata":false},{"id":71281,"structure_id":13290,"section_number":"38.2-1329","catch_line":"Registration of insurers that are members of holding company system","url":"\/38.2-1329\/","token":"38.2\/13\/5\/38.2-1329","metadata":false},{"id":77796,"structure_id":13290,"section_number":"38.2-1330","catch_line":"Standards for transactions within an insurance holding company system; adequacy of surplus","url":"\/38.2-1330\/","token":"38.2\/13\/5\/38.2-1330","metadata":false},{"id":71817,"structure_id":13290,"section_number":"38.2-1330.1","catch_line":"Dividends and other distributions","url":"\/38.2-1330.1\/","token":"38.2\/13\/5\/38.2-1330.1","metadata":false},{"id":70122,"structure_id":13290,"section_number":"38.2-1331","catch_line":"Repealed","url":"\/38.2-1331\/","token":"38.2\/13\/5\/38.2-1331","metadata":false},{"id":84275,"structure_id":13290,"section_number":"38.2-1332","catch_line":"Examinations","url":"\/38.2-1332\/","token":"38.2\/13\/5\/38.2-1332","metadata":false},{"id":57304,"structure_id":13290,"section_number":"38.2-1332.1","catch_line":"Supervisory colleges","url":"\/38.2-1332.1\/","token":"38.2\/13\/5\/38.2-1332.1","metadata":false},{"id":62040,"structure_id":13290,"section_number":"38.2-1332.2","catch_line":"Group-wide supervision of internationally active insurance groups","url":"\/38.2-1332.2\/","token":"38.2\/13\/5\/38.2-1332.2","metadata":false},{"id":68581,"structure_id":13290,"section_number":"38.2-1333","catch_line":"Confidential treatment of information and documents","url":"\/38.2-1333\/","token":"38.2\/13\/5\/38.2-1333","metadata":false},{"id":56656,"structure_id":13290,"section_number":"38.2-1334","catch_line":"Revocation, suspension, or nonrenewal of insurer's license","url":"\/38.2-1334\/","token":"38.2\/13\/5\/38.2-1334","metadata":false},{"id":76185,"structure_id":13290,"section_number":"38.2-1334.1","catch_line":"Voting of securities, injunctions, and sequestration of voting securities","url":"\/38.2-1334.1\/","token":"38.2\/13\/5\/38.2-1334.1","metadata":false},{"id":57406,"structure_id":13290,"section_number":"38.2-1334.2","catch_line":"Recovery","url":"\/38.2-1334.2\/","token":"38.2\/13\/5\/38.2-1334.2","metadata":false},{"id":60684,"structure_id":13290,"section_number":"38.2-1334.2:1","catch_line":"Rules and regulations","url":"\/38.2-1334.2_1\/","token":"38.2\/13\/5\/38.2-1334.2_1","metadata":false},{"id":78719,"structure_id":13290,"section_number":"38.2-1334.2:2","catch_line":"Sanctions","url":"\/38.2-1334.2_2\/","token":"38.2\/13\/5\/38.2-1334.2_2","metadata":false},{"id":56478,"structure_id":13290,"section_number":"38.2-1334.2:3","catch_line":"Statutory construction and relationship to other laws","url":"\/38.2-1334.2_3\/","token":"38.2\/13\/5\/38.2-1334.2_3","metadata":false}],"previous_section":{"id":70122,"structure_id":13290,"section_number":"38.2-1331","catch_line":"Repealed","url":"\/38.2-1331\/","token":"38.2\/13\/5\/38.2-1331","metadata":false},"next_section":{"id":57304,"structure_id":13290,"section_number":"38.2-1332.1","catch_line":"Supervisory colleges","url":"\/38.2-1332.1\/","token":"38.2\/13\/5\/38.2-1332.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1332\/","history_text":"

This law was first created in 1973. The record of its establishment is cataloged in chapter 505 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 1973 \u201cActs\u201d aren\u2019t available online. It has been modified 3 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 1986, chapter 562; in 1992, chapter 588; in 2014, chapter 309<\/a>.<\/p>","references":[{"id":57304,"section_number":"38.2-1332.1","catch_line":"Supervisory colleges","order_by":null,"url":"\/38.2-1332.1\/"},{"id":62040,"section_number":"38.2-1332.2","catch_line":"Group-wide supervision of internationally active insurance groups","order_by":null,"url":"\/38.2-1332.2\/"},{"id":68581,"section_number":"38.2-1333","catch_line":"Confidential treatment of information and documents","order_by":null,"url":"\/38.2-1333\/"}],"refers_to":[{"id":85909,"section_number":"38.2-1317","catch_line":"Examinations; when authorized or required","order_by":null,"url":"\/38.2-1317\/"},{"id":71281,"section_number":"38.2-1329","catch_line":"Registration of insurers that are members of holding company system","order_by":null,"url":"\/38.2-1329\/"},{"id":64490,"section_number":"38.2-218","catch_line":"Penalties and restitution payments","order_by":null,"url":"\/38.2-218\/"}],"permalink":{"id":211655,"object_type":"law","relational_id":84275,"identifier":"38.2-1332","token":"38.2\/13\/5\/38.2-1332","url":"\/38.2-1332\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1332\/","token":"38.2\/13\/5\/38.2-1332","dublin_core":{"Title":"Examinations","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1332","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> In addition to the powers the Commission<\/span> has under Article 4 (§ 38.2-1317<\/a> et seq.), the Commission<\/span> shall have the power to examine any insurer<\/span> registered under § 38.2-1329<\/a> and its affiliates<\/span> to ascertain the financial condition of the insurer<\/span>, including the enterprise risk<\/span> to the insurer<\/span> by the ultimate controlling party<\/span>, or by any entity or combination of entities within the insurance holding company system<\/span>, or by the insurance holding company system<\/span> on a consolidated basis. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Commission<\/span> may order<\/span> any insurer<\/span> registered under § 38.2-1329<\/a> to produce such records, books, or other information papers in the possession<\/span> of the insurer<\/span> or its affiliates<\/span> as are reasonably necessary to determine compliance with this article. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> To determine compliance with this article, the Commission<\/span> may order<\/span> any insurer<\/span> registered under § 38.2-1329<\/a> to produce information not in the possession<\/span> of the insurer<\/span> if the insurer<\/span> can obtain access to such information pursuant to contractual relationships, statutory obligations, or other method. In the event the insurer<\/span> cannot obtain the information requested by the Commission<\/span>, the insurer<\/span> shall provide the Commission<\/span> a detailed explanation of the reason that the insurer<\/span> cannot obtain the information and the identity of the holder of such information. Whenever it appears to the Commission<\/span> that the detailed explanation is without merit, the Commission<\/span> may require, after notice and hearing<\/span>, the insurer<\/span> to pay a penalty<\/span> pursuant to § 38.2-218<\/a> for each day’s delay or may suspend or revoke the insurer<\/span>’s license. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The Commission<\/span> may retain at the registered insurer<\/span>’s expense any attorneys, actuaries, accountants and other experts reasonably necessary to assist in the conduct of the examination under subsection A. Any persons<\/span> so retained shall be under the direction and control of the Commission<\/span> and shall act in a purely advisory capacity. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Each insurer<\/span> producing books and papers for examination records pursuant to subsection B shall be liable for and shall pay the expense of the examination in accordance with the provisions of Article 4 (§ 38.2-1317<\/a> et seq.). <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> In the event the insurer<\/span> fails to comply with an order<\/span>, the Commission<\/span> shall have the power to examine the affiliates<\/span> to obtain the information. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEXAMINATIONS (\u00a7 38.2-1332)\n\nA. In addition to the powers the Commission has under Article 4 (§\n38.2-1317 et seq.), the Commission shall have the power to examine any insurer\nregistered under § 38.2-1329 and its affiliates to ascertain the financial\ncondition of the insurer, including the enterprise risk to the insurer by the\nultimate controlling party, or by any entity or combination of entities within\nthe insurance holding company system, or by the insurance holding company system\non a consolidated basis.\n\nB. The Commission may order any insurer registered under § 38.2-1329 to\nproduce such records, books, or other information papers in the possession of\nthe insurer or its affiliates as are reasonably necessary to determine\ncompliance with this article.\n\nC. To determine compliance with this article, the Commission may order any\ninsurer registered under § 38.2-1329 to produce information not in the\npossession of the insurer if the insurer can obtain access to such information\npursuant to contractual relationships, statutory obligations, or other method.\nIn the event the insurer cannot obtain the information requested by the\nCommission, the insurer shall provide the Commission a detailed explanation of\nthe reason that the insurer cannot obtain the information and the identity of\nthe holder of such information. Whenever it appears to the Commission that the\ndetailed explanation is without merit, the Commission may require, after notice\nand hearing, the insurer to pay a penalty pursuant to § 38.2-218 for each\nday’s delay or may suspend or revoke the insurer’s license.\n\nD. The Commission may retain at the registered insurer’s expense any\nattorneys, actuaries, accountants and other experts reasonably necessary to\nassist in the conduct of the examination under subsection A. Any persons so\nretained shall be under the direction and control of the Commission and shall\nact in a purely advisory capacity.\n\nE. Each insurer producing books and papers for examination records pursuant to\nsubsection B shall be liable for and shall pay the expense of the examination in\naccordance with the provisions of Article 4 (§ 38.2-1317 et seq.).\n\nF. In the event the insurer fails to comply with an order, the Commission shall\nhave the power to examine the affiliates to obtain the information.\n\nHISTORY: 1973, c. 505, \u00a7 38.1-178.4; 1986, c. 562; 1992, c. 588; 2014, c. 309.","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}}