{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1359.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1359.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1359.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1359.html"}],"law_id":84337,"edition_id":1,"section_id":84337,"structure_id":13457,"section_number":"38.2-1359","catch_line":"Licensure","history":"2001, c. 706.","full_text":"A\n\nNo domestic insurer shall permit a person to act, and no person shall act, in the capacity of a managing general agent for an insurer domiciled in this Commonwealth unless such person is licensed in this Commonwealth to act as a managing general agent.B\n\nNo foreign or alien insurer shall permit a person to act, and no person shall act, in the capacity of a managing general agent representing such an insurer unless such person is licensed (i) in this Commonwealth to act as a managing general agent or (ii) in another state under laws that are substantially similar to the provisions of this article.C\n\nThe Commission may license as a managing general agent any individual or business entity that has complied with the requirements of this article and any regulations concerning licensure that may be promulgated by the Commission. The Commission may refuse to issue a license, subject to the right of the applicant to demand a hearing on the application, if the Commission believes the applicant, any person named on the application, or any member, principal, officer or director of the applicant is not trustworthy to act as a managing general agent, or that any of the foregoing has given cause for revocation or suspension of such license, or has failed to comply with any prerequisite for issuance of such license.D\n\nAny person seeking a license pursuant to subsection A or clause (i) of subsection B of this section shall apply for such license in a form acceptable to the Commission, and shall pay to the Commission a nonrefundable application fee in an amount prescribed by the Commission. Such fee shall be not less than $500 and not more than $1,000. Every licensed managing general agent shall pay to the Commission a nonrefundable biennial renewal fee in an amount prescribed by the Commission. Such fee shall be not less than $500 and not more than $1,000. Between May 1 and June 1 of the renewal year, each licensed managing general agent shall submit to the Commission a renewal application form and fee in the manner and form prescribed by the Commission. All fees shall be collected by the Commission, paid into the state treasury, and placed to the credit of the fund for maintenance of the Bureau of Insurance as provided in subsection B of § 38.2-400. Each license and renewed license shall expire on June 30 of the appropriate year.E\n\nThe Commission may require that the managing general agent be bonded in a manner acceptable to the Commission for the protection of the insurer, and shall require, as a prerequisite to licensure or license renewal, a certification or attestation from the applicant that such bond is in effect.F\n\nThe Commission may require a managing general agent to maintain an errors and omissions policy that is acceptable to the Commission, and shall require, as a prerequisite to licensure or license renewal, a certification or attestation from the applicant that such policy is in effect.G\n\nExcept where prohibited by state or federal law, by submitting an application for license, the applicant shall be deemed to have appointed the clerk of the Commission as the agent for service of process on the applicant in any action or proceeding arising in this Commonwealth out of or in connection with the exercise of the license. Such appointment of the clerk of the Commission as agent for service of process shall be irrevocable during the period within which a cause of action against the applicant may arise out of transactions with respect to subjects of insurance in this Commonwealth. Service of process on the clerk of the Commission shall conform to the provisions of Chapter 8 (§ 38.2-800 et seq.) of this title.H\n\nA person seeking licensure shall provide evidence, in a form acceptable to the Commission, of its appointments or contracts as a managing general agent. The Commission may refuse to renew the license of a person that has not been appointed by, or otherwise authorized to act for, an insurer as a managing general agent.","order_by":null,"text":{"0":{"id":302294,"text":"No domestic insurer shall permit a person to act, and no person shall act, in the capacity of a managing general agent for an insurer domiciled in this Commonwealth unless such person is licensed in this Commonwealth to act as a managing general agent.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":302295,"text":"No foreign or alien insurer shall permit a person to act, and no person shall act, in the capacity of a managing general agent representing such an insurer unless such person is licensed (i) in this Commonwealth to act as a managing general agent or (ii) in another state under laws that are substantially similar to the provisions of this article.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":302296,"text":"The Commission may license as a managing general agent any individual or business entity that has complied with the requirements of this article and any regulations concerning licensure that may be promulgated by the Commission. The Commission may refuse to issue a license, subject to the right of the applicant to demand a hearing on the application, if the Commission believes the applicant, any person named on the application, or any member, principal, officer or director of the applicant is not trustworthy to act as a managing general agent, or that any of the foregoing has given cause for revocation or suspension of such license, or has failed to comply with any prerequisite for issuance of such license.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":302297,"text":"Any person seeking a license pursuant to subsection A or clause (i) of subsection B of this section shall apply for such license in a form acceptable to the Commission, and shall pay to the Commission a nonrefundable application fee in an amount prescribed by the Commission. Such fee shall be not less than $500 and not more than $1,000. Every licensed managing general agent shall pay to the Commission a nonrefundable biennial renewal fee in an amount prescribed by the Commission. Such fee shall be not less than $500 and not more than $1,000. Between May 1 and June 1 of the renewal year, each licensed managing general agent shall submit to the Commission a renewal application form and fee in the manner and form prescribed by the Commission. All fees shall be collected by the Commission, paid into the state treasury, and placed to the credit of the fund for maintenance of the Bureau of Insurance as provided in subsection B of § 38.2-400. Each license and renewed license shall expire on June 30 of the appropriate year.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":302298,"text":"The Commission may require that the managing general agent be bonded in a manner acceptable to the Commission for the protection of the insurer, and shall require, as a prerequisite to licensure or license renewal, a certification or attestation from the applicant that such bond is in effect.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":302299,"text":"The Commission may require a managing general agent to maintain an errors and omissions policy that is acceptable to the Commission, and shall require, as a prerequisite to licensure or license renewal, a certification or attestation from the applicant that such policy is in effect.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E","next_prefix":"G"},"6":{"id":302300,"text":"Except where prohibited by state or federal law, by submitting an application for license, the applicant shall be deemed to have appointed the clerk of the Commission as the agent for service of process on the applicant in any action or proceeding arising in this Commonwealth out of or in connection with the exercise of the license. Such appointment of the clerk of the Commission as agent for service of process shall be irrevocable during the period within which a cause of action against the applicant may arise out of transactions with respect to subjects of insurance in this Commonwealth. Service of process on the clerk of the Commission shall conform to the provisions of Chapter 8 (§ 38.2-800 et seq.) of this title.","type":"section","prefixes":["G"],"prefix":"G","entire_prefix":"G","prefix_anchor":"G","level":1,"prior_prefix":"F","next_prefix":"H"},"7":{"id":302301,"text":"A person seeking licensure shall provide evidence, in a form acceptable to the Commission, of its appointments or contracts as a managing general agent. The Commission may refuse to renew the license of a person that has not been appointed by, or otherwise authorized to act for, an insurer as a managing general agent.","type":"section","prefixes":["H"],"prefix":"H","entire_prefix":"H","prefix_anchor":"H","level":1,"prior_prefix":"G"}},"ancestry":[{"id":13457,"edition_id":1,"name":"Licensing of Managing General Agents","identifier":"9","label":"article","depth":3,"order_by":1,"parent_id":13289,"metadata":{},"date_created":"2026-06-26 03:44:55","date_modified":"2026-06-26 03:44:55","permalink":{"id":211857,"object_type":"structure","relational_id":13457,"identifier":"9","token":"38.2\/13\/9","url":"\/38.2\/13\/9\/","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":82605,"structure_id":13457,"section_number":"38.2-1358","catch_line":"Definitions","url":"\/38.2-1358\/","token":"38.2\/13\/9\/38.2-1358","metadata":false},{"id":84337,"structure_id":13457,"section_number":"38.2-1359","catch_line":"Licensure","url":"\/38.2-1359\/","token":"38.2\/13\/9\/38.2-1359","metadata":false},{"id":66843,"structure_id":13457,"section_number":"38.2-1360","catch_line":"Required contract provisions","url":"\/38.2-1360\/","token":"38.2\/13\/9\/38.2-1360","metadata":false},{"id":57894,"structure_id":13457,"section_number":"38.2-1361","catch_line":"Duties of insurers utilizing managing general agents","url":"\/38.2-1361\/","token":"38.2\/13\/9\/38.2-1361","metadata":false},{"id":54417,"structure_id":13457,"section_number":"38.2-1362","catch_line":"Examination authority","url":"\/38.2-1362\/","token":"38.2\/13\/9\/38.2-1362","metadata":false},{"id":83354,"structure_id":13457,"section_number":"38.2-1363","catch_line":"Penalties and liabilities; grounds for placing on probation, refusal to issue or renew, revocation, or suspension of license","url":"\/38.2-1363\/","token":"38.2\/13\/9\/38.2-1363","metadata":false},{"id":69749,"structure_id":13457,"section_number":"38.2-1364","catch_line":"Requirement to report to Commission","url":"\/38.2-1364\/","token":"38.2\/13\/9\/38.2-1364","metadata":false}],"previous_section":{"id":82605,"structure_id":13457,"section_number":"38.2-1358","catch_line":"Definitions","url":"\/38.2-1358\/","token":"38.2\/13\/9\/38.2-1358","metadata":false},"next_section":{"id":66843,"structure_id":13457,"section_number":"38.2-1360","catch_line":"Required contract provisions","url":"\/38.2-1360\/","token":"38.2\/13\/9\/38.2-1360","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1359\/","history_text":"

This law was first created in 2001. The record of its establishment is cataloged in chapter 706<\/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":false,"refers_to":[{"id":57860,"section_number":"38.2-400","catch_line":"Expense of administration of insurance laws borne by licensees; minimum contribution","order_by":null,"url":"\/38.2-400\/"},{"id":54065,"section_number":"38.2-800","catch_line":"Definition","order_by":null,"url":"\/38.2-800\/"}],"permalink":{"id":211863,"object_type":"law","relational_id":84337,"identifier":"38.2-1359","token":"38.2\/13\/9\/38.2-1359","url":"\/38.2-1359\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1359\/","token":"38.2\/13\/9\/38.2-1359","dublin_core":{"Title":"Licensure","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1359","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> No domestic insurer<\/span> shall permit a person<\/span> to act, and no person<\/span> shall act, in the capacity of a managing general agent<\/span> for an insurer<\/span> domiciled in this Commonwealth unless such person<\/span> is licensed in this Commonwealth to act as a managing general agent<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> No foreign or alien insurer<\/span> shall permit a person<\/span> to act, and no person<\/span> shall act, in the capacity of a managing general agent<\/span> representing such an insurer<\/span> unless such person<\/span> is licensed (i) in this Commonwealth to act as a managing general agent<\/span> or (ii) in another state<\/span> under laws<\/span> that are substantially similar to the provisions of this article. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The Commission<\/span> may license as a managing general agent<\/span> any individual or business entity<\/span> that has complied with the requirements of this article and any regulations concerning licensure that may be promulgated by the Commission<\/span>. The Commission<\/span> may refuse to issue<\/span> a license, subject to the right of the applicant to demand a hearing<\/span> on the application, if the Commission<\/span> believes the applicant, any person<\/span> named on the application, or any member, principal, officer or director of the applicant is not trustworthy to act as a managing general agent<\/span>, or that any of the foregoing has given cause for revocation<\/span> or suspension of such license, or has failed to comply with any prerequisite for issuance of such license. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Any person<\/span> seeking a license pursuant to subsection A or clause (i) of subsection B of this section shall apply for such license in a form acceptable to the Commission<\/span>, and shall pay to the Commission<\/span> a nonrefundable application fee in an amount prescribed by the Commission<\/span>. Such fee shall be not less than $500 and not more than $1,000. Every licensed managing general agent<\/span> shall pay to the Commission<\/span> a nonrefundable biennial renewal fee in an amount prescribed by the Commission<\/span>. Such fee shall be not less than $500 and not more than $1,000. Between May 1 and June 1 of the renewal year, each licensed managing general agent<\/span> shall submit to the Commission<\/span> a renewal application form and fee in the manner and form prescribed by the Commission<\/span>. All fees shall be collected by the Commission<\/span>, paid into the state<\/span> treasury, and placed to the credit of the fund for maintenance of the Bureau of Insurance<\/span> as provided in subsection B of § 38.2-400<\/a>. Each license and renewed license shall expire on June 30 of the appropriate year. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> The Commission<\/span> may require that the managing general agent<\/span> be bonded in a manner acceptable to the Commission<\/span> for the protection of the insurer<\/span>, and shall require, as a prerequisite to licensure or license renewal, a certification or attestation from the applicant that such bond<\/span> is in effect. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> The Commission<\/span> may require a managing general agent<\/span> to maintain an errors and omissions policy that is acceptable to the Commission<\/span>, and shall require, as a prerequisite to licensure or license renewal, a certification or attestation from the applicant that such policy is in effect. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

G.<\/span> Except where prohibited by state<\/span> or federal law<\/span>, by submitting an application for license, the applicant shall be deemed to have appointed the clerk of the Commission<\/span> as the agent for service of process<\/span> on the applicant in any action or proceeding arising in this Commonwealth out of or in connection with the exercise of the license. Such appointment of the clerk of the Commission<\/span> as agent for service of process<\/span> shall be irrevocable during the period within which a cause of action<\/span> against the applicant may arise out of transactions with respect to subjects of insurance in this Commonwealth. Service of process<\/span> on the clerk of the Commission<\/span> shall conform to the provisions of Chapter 8 (§ 38.2-800<\/a> et seq.) of this title. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

H.<\/span> A person<\/span> seeking licensure shall provide evidence<\/span>, in a form acceptable to the Commission<\/span>, of its appointments or contracts<\/span> as a managing general agent<\/span>. The Commission<\/span> may refuse to renew the license of a person<\/span> that has not been appointed by, or otherwise authorized to act for, an insurer<\/span> as a managing general agent<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLICENSURE (\u00a7 38.2-1359)\n\nA. No domestic insurer shall permit a person to act, and no person shall act, in\nthe capacity of a managing general agent for an insurer domiciled in this\nCommonwealth unless such person is licensed in this Commonwealth to act as a\nmanaging general agent.\n\nB. No foreign or alien insurer shall permit a person to act, and no person shall\nact, in the capacity of a managing general agent representing such an insurer\nunless such person is licensed (i) in this Commonwealth to act as a managing\ngeneral agent or (ii) in another state under laws that are substantially similar\nto the provisions of this article.\n\nC. The Commission may license as a managing general agent any individual or\nbusiness entity that has complied with the requirements of this article and any\nregulations concerning licensure that may be promulgated by the Commission. The\nCommission may refuse to issue a license, subject to the right of the applicant\nto demand a hearing on the application, if the Commission believes the\napplicant, any person named on the application, or any member, principal,\nofficer or director of the applicant is not trustworthy to act as a managing\ngeneral agent, or that any of the foregoing has given cause for revocation or\nsuspension of such license, or has failed to comply with any prerequisite for\nissuance of such license.\n\nD. Any person seeking a license pursuant to subsection A or clause (i) of\nsubsection B of this section shall apply for such license in a form acceptable\nto the Commission, and shall pay to the Commission a nonrefundable application\nfee in an amount prescribed by the Commission. Such fee shall be not less than\n$500 and not more than $1,000. Every licensed managing general agent shall pay\nto the Commission a nonrefundable biennial renewal fee in an amount prescribed\nby the Commission. Such fee shall be not less than $500 and not more than\n$1,000. Between May 1 and June 1 of the renewal year, each licensed managing\ngeneral agent shall submit to the Commission a renewal application form and fee\nin the manner and form prescribed by the Commission. All fees shall be collected\nby the Commission, paid into the state treasury, and placed to the credit of the\nfund for maintenance of the Bureau of Insurance as provided in subsection B of\n§ 38.2-400. Each license and renewed license shall expire on June 30 of the\nappropriate year.\n\nE. The Commission may require that the managing general agent be bonded in a\nmanner acceptable to the Commission for the protection of the insurer, and shall\nrequire, as a prerequisite to licensure or license renewal, a certification or\nattestation from the applicant that such bond is in effect.\n\nF. The Commission may require a managing general agent to maintain an errors and\nomissions policy that is acceptable to the Commission, and shall require, as a\nprerequisite to licensure or license renewal, a certification or attestation\nfrom the applicant that such policy is in effect.\n\nG. Except where prohibited by state or federal law, by submitting an application\nfor license, the applicant shall be deemed to have appointed the clerk of the\nCommission as the agent for service of process on the applicant in any action or\nproceeding arising in this Commonwealth out of or in connection with the\nexercise of the license. Such appointment of the clerk of the Commission as\nagent for service of process shall be irrevocable during the period within which\na cause of action against the applicant may arise out of transactions with\nrespect to subjects of insurance in this Commonwealth. Service of process on the\nclerk of the Commission shall conform to the provisions of Chapter 8 (§\n38.2-800 et seq.) of this title.\n\nH. A person seeking licensure shall provide evidence, in a form acceptable to\nthe Commission, of its appointments or contracts as a managing general agent.\nThe Commission may refuse to renew the license of a person that has not been\nappointed by, or otherwise authorized to act for, an insurer as a managing\ngeneral agent.\n\nHISTORY: 2001, c. 706.","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}}