{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1334.13.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1334.13.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1334.13.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1334.13.html"}],"law_id":71848,"edition_id":1,"section_id":71848,"structure_id":13689,"section_number":"38.2-1334.13","catch_line":"Contents of Corporate Governance Annual Disclosure","history":"2017, c. 643.","full_text":"A\n\nThe insurer or insurance group shall have discretion over the responses to the CGAD inquiries, provided that the CGAD shall contain the material information necessary to permit the Commission to gain an understanding of the insurer’s or insurance group’s corporate governance structure, policies, and practices. The Commission may request additional information deemed material and necessary to provide the Commission with a clear understanding of the corporate governance policies, the reporting or information system, or the controls implementing those policies.B\n\nNotwithstanding subsection A, the CGAD shall be prepared consistent with the rules and regulations promulgated by the Commission to administer the requirements of this article. Documentation and supporting information shall be maintained and made available upon examination or upon request of the Commission.","order_by":null,"text":{"0":{"id":258859,"text":"The insurer or insurance group shall have discretion over the responses to the CGAD inquiries, provided that the CGAD shall contain the material information necessary to permit the Commission to gain an understanding of the insurer’s or insurance group’s corporate governance structure, policies, and practices. The Commission may request additional information deemed material and necessary to provide the Commission with a clear understanding of the corporate governance policies, the reporting or information system, or the controls implementing those policies.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":258860,"text":"Notwithstanding subsection A, the CGAD shall be prepared consistent with the rules and regulations promulgated by the Commission to administer the requirements of this article. Documentation and supporting information shall be maintained and made available upon examination or upon request of the Commission.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":13689,"edition_id":1,"name":"Corporate Governance Annual Disclosures","identifier":"5.2","label":"article","depth":3,"order_by":1,"parent_id":13289,"metadata":{},"date_created":"2026-06-26 03:45:34","date_modified":"2026-06-26 03:45:34","permalink":{"id":211729,"object_type":"structure","relational_id":13689,"identifier":"5.2","token":"38.2\/13\/5.2","url":"\/38.2\/13\/5.2\/","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":65917,"structure_id":13689,"section_number":"38.2-1334.11","catch_line":"Definitions","url":"\/38.2-1334.11\/","token":"38.2\/13\/5.2\/38.2-1334.11","metadata":false},{"id":87455,"structure_id":13689,"section_number":"38.2-1334.12","catch_line":"Disclosure requirement","url":"\/38.2-1334.12\/","token":"38.2\/13\/5.2\/38.2-1334.12","metadata":false},{"id":71848,"structure_id":13689,"section_number":"38.2-1334.13","catch_line":"Contents of Corporate Governance Annual Disclosure","url":"\/38.2-1334.13\/","token":"38.2\/13\/5.2\/38.2-1334.13","metadata":false},{"id":66192,"structure_id":13689,"section_number":"38.2-1334.14","catch_line":"Confidentiality","url":"\/38.2-1334.14\/","token":"38.2\/13\/5.2\/38.2-1334.14","metadata":false},{"id":86182,"structure_id":13689,"section_number":"38.2-1334.15","catch_line":"NAIC and third-party consultants","url":"\/38.2-1334.15\/","token":"38.2\/13\/5.2\/38.2-1334.15","metadata":false},{"id":54668,"structure_id":13689,"section_number":"38.2-1334.16","catch_line":"Rules and regulations","url":"\/38.2-1334.16\/","token":"38.2\/13\/5.2\/38.2-1334.16","metadata":false},{"id":74286,"structure_id":13689,"section_number":"38.2-1334.17","catch_line":"Sanctions","url":"\/38.2-1334.17\/","token":"38.2\/13\/5.2\/38.2-1334.17","metadata":false}],"previous_section":{"id":87455,"structure_id":13689,"section_number":"38.2-1334.12","catch_line":"Disclosure requirement","url":"\/38.2-1334.12\/","token":"38.2\/13\/5.2\/38.2-1334.12","metadata":false},"next_section":{"id":66192,"structure_id":13689,"section_number":"38.2-1334.14","catch_line":"Confidentiality","url":"\/38.2-1334.14\/","token":"38.2\/13\/5.2\/38.2-1334.14","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1334.13\/","history_text":"

This law was first created in 2017. The record of its establishment is cataloged in chapter 643<\/a> 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.<\/p>","references":[{"id":87455,"section_number":"38.2-1334.12","catch_line":"Disclosure requirement","order_by":null,"url":"\/38.2-1334.12\/"}],"refers_to":false,"permalink":{"id":211739,"object_type":"law","relational_id":71848,"identifier":"38.2-1334.13","token":"38.2\/13\/5.2\/38.2-1334.13","url":"\/38.2-1334.13\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1334.13\/","token":"38.2\/13\/5.2\/38.2-1334.13","dublin_core":{"Title":"Contents of Corporate Governance Annual Disclosure","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1334.13","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The insurer<\/span> or insurance group<\/span> shall have discretion over the responses to the CGAD<\/span> inquiries, provided that the CGAD<\/span> shall contain the material<\/span> information necessary to permit the Commission<\/span> to gain an understanding of the insurer<\/span>’s or insurance group<\/span>’s corporate governance structure, policies, and practices. The Commission<\/span> may request additional information deemed material<\/span> and necessary to provide the Commission<\/span> with a clear understanding of the corporate governance policies, the reporting or information system, or the controls implementing those policies. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Notwithstanding subsection A, the CGAD<\/span> shall be prepared consistent with the rules and regulations promulgated by the Commission<\/span> to administer the requirements of this article. Documentation and supporting information shall be maintained and made available upon examination or upon request of the Commission<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONTENTS OF CORPORATE GOVERNANCE ANNUAL DISCLOSURE (\u00a7 38.2-1334.13)\n\nA. The insurer or insurance group shall have discretion over the responses to\nthe CGAD inquiries, provided that the CGAD shall contain the material\ninformation necessary to permit the Commission to gain an understanding of the\ninsurer’s or insurance group’s corporate governance structure,\npolicies, and practices. The Commission may request additional information\ndeemed material and necessary to provide the Commission with a clear\nunderstanding of the corporate governance policies, the reporting or information\nsystem, or the controls implementing those policies.\n\nB. Notwithstanding subsection A, the CGAD shall be prepared consistent with the\nrules and regulations promulgated by the Commission to administer the\nrequirements of this article. Documentation and supporting information shall be\nmaintained and made available upon examination or upon request of the\nCommission.\n\nHISTORY: 2017, c. 643.","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}}