{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1519.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1519.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1519.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1519.html"}],"law_id":57858,"edition_id":1,"section_id":57858,"structure_id":15197,"section_number":"38.2-1519","catch_line":"Termination of rehabilitation; when liquidation may be entered","history":"Code 1950, \u00a7 38-139; 1952, c. 317, \u00a7 38.1-143; 1986, c. 562.","full_text":"A\n\nIf either the Commission or the court determines that the purposes of the rehabilitation proceeding have been accomplished and that the insurer can safely and properly resume possession of its property and the conduct of its business, an order may be entered terminating the rehabilitation proceeding and permitting the insurer to resume possession of its property and the management and conduct of its affairs. The order shall not be entered until a full hearing is held, subject to proper notice given in the manner prescribed by the Commission or the court.B\n\nIf at any time it appears to either the Commission or the court that further efforts to rehabilitate the insurer would be useless, an order of liquidation may be entered.","order_by":null,"text":{"0":{"id":211973,"text":"If either the Commission or the court determines that the purposes of the rehabilitation proceeding have been accomplished and that the insurer can safely and properly resume possession of its property and the conduct of its business, an order may be entered terminating the rehabilitation proceeding and permitting the insurer to resume possession of its property and the management and conduct of its affairs. The order shall not be entered until a full hearing is held, subject to proper notice given in the manner prescribed by the Commission or the court.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":211974,"text":"If at any time it appears to either the Commission or the court that further efforts to rehabilitate the insurer would be useless, an order of liquidation may be entered.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":15197,"edition_id":1,"name":"Rehabilitation and Liquidation of Insurers","identifier":"15","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:52:54","date_modified":"2026-06-26 03:52:54","permalink":{"id":212117,"object_type":"structure","relational_id":15197,"identifier":"15","token":"38.2\/15","url":"\/38.2\/15\/","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":66658,"structure_id":15197,"section_number":"38.2-1500","catch_line":"Scope of chapter","url":"\/38.2-1500\/","token":"38.2\/15\/38.2-1500","metadata":false},{"id":70981,"structure_id":15197,"section_number":"38.2-1501","catch_line":"Definitions","url":"\/38.2-1501\/","token":"38.2\/15\/38.2-1501","metadata":false},{"id":70456,"structure_id":15197,"section_number":"38.2-1502","catch_line":"Jurisdiction and procedure","url":"\/38.2-1502\/","token":"38.2\/15\/38.2-1502","metadata":false},{"id":69543,"structure_id":15197,"section_number":"38.2-1503","catch_line":"Grounds for delinquency proceedings commenced by Commission against domestic insurer","url":"\/38.2-1503\/","token":"38.2\/15\/38.2-1503","metadata":false},{"id":57983,"structure_id":15197,"section_number":"38.2-1504","catch_line":"Requirements when proceedings instituted by any person other than Commission","url":"\/38.2-1504\/","token":"38.2\/15\/38.2-1504","metadata":false},{"id":75038,"structure_id":15197,"section_number":"38.2-1505","catch_line":"Commission may apply for receiver and for other relief; what orders court may enter","url":"\/38.2-1505\/","token":"38.2\/15\/38.2-1505","metadata":false},{"id":68865,"structure_id":15197,"section_number":"38.2-1506","catch_line":"Requirements when receiver appointed; disbursement of available assets to association, etc","url":"\/38.2-1506\/","token":"38.2\/15\/38.2-1506","metadata":false},{"id":81475,"structure_id":15197,"section_number":"38.2-1507","catch_line":"Further procedure; injunction may be issued","url":"\/38.2-1507\/","token":"38.2\/15\/38.2-1507","metadata":false},{"id":75610,"structure_id":15197,"section_number":"38.2-1508","catch_line":"Powers of Commission when authorized to rehabilitate or liquidate companies","url":"\/38.2-1508\/","token":"38.2\/15\/38.2-1508","metadata":false},{"id":66006,"structure_id":15197,"section_number":"38.2-1509","catch_line":"Powers of Commission when authorized to rehabilitate or liquidate insurers by court order; disbursement of available assets to an association, etc","url":"\/38.2-1509\/","token":"38.2\/15\/38.2-1509","metadata":false},{"id":84217,"structure_id":15197,"section_number":"38.2-1510","catch_line":"Commission may appoint assistants in connection with rehabilitation or liquidation","url":"\/38.2-1510\/","token":"38.2\/15\/38.2-1510","metadata":false},{"id":69985,"structure_id":15197,"section_number":"38.2-1511","catch_line":"Borrowing on pledge of assets","url":"\/38.2-1511\/","token":"38.2\/15\/38.2-1511","metadata":false},{"id":69044,"structure_id":15197,"section_number":"38.2-1512","catch_line":"Rights and liabilities fixed upon liquidation","url":"\/38.2-1512\/","token":"38.2\/15\/38.2-1512","metadata":false},{"id":77564,"structure_id":15197,"section_number":"38.2-1513","catch_line":"Voidable transfers","url":"\/38.2-1513\/","token":"38.2\/15\/38.2-1513","metadata":false},{"id":60160,"structure_id":15197,"section_number":"38.2-1514","catch_line":"Priority of claims for wages","url":"\/38.2-1514\/","token":"38.2\/15\/38.2-1514","metadata":false},{"id":75937,"structure_id":15197,"section_number":"38.2-1515","catch_line":"Mutual debts or credits, how treated","url":"\/38.2-1515\/","token":"38.2\/15\/38.2-1515","metadata":false},{"id":82543,"structure_id":15197,"section_number":"38.2-1516","catch_line":"Receivers to file reports, etc., with Commission","url":"\/38.2-1516\/","token":"38.2\/15\/38.2-1516","metadata":false},{"id":81714,"structure_id":15197,"section_number":"38.2-1517","catch_line":"What included in annual report of Commission","url":"\/38.2-1517\/","token":"38.2\/15\/38.2-1517","metadata":false},{"id":70097,"structure_id":15197,"section_number":"38.2-1518","catch_line":"Rehabilitation or mutualization of companies","url":"\/38.2-1518\/","token":"38.2\/15\/38.2-1518","metadata":false},{"id":57858,"structure_id":15197,"section_number":"38.2-1519","catch_line":"Termination of rehabilitation; when liquidation may be entered","url":"\/38.2-1519\/","token":"38.2\/15\/38.2-1519","metadata":false},{"id":68871,"structure_id":15197,"section_number":"38.2-1520","catch_line":"Liquidation of alien insurers","url":"\/38.2-1520\/","token":"38.2\/15\/38.2-1520","metadata":false},{"id":60418,"structure_id":15197,"section_number":"38.2-1521","catch_line":"Conservation of assets of foreign or alien insurer; when liquidation may be entered","url":"\/38.2-1521\/","token":"38.2\/15\/38.2-1521","metadata":false},{"id":83355,"structure_id":15197,"section_number":"38.2-1522","catch_line":"Qualified financial contracts","url":"\/38.2-1522\/","token":"38.2\/15\/38.2-1522","metadata":false}],"previous_section":{"id":70097,"structure_id":15197,"section_number":"38.2-1518","catch_line":"Rehabilitation or mutualization of companies","url":"\/38.2-1518\/","token":"38.2\/15\/38.2-1518","metadata":false},"next_section":{"id":68871,"structure_id":15197,"section_number":"38.2-1520","catch_line":"Liquidation of alien insurers","url":"\/38.2-1520\/","token":"38.2\/15\/38.2-1520","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1519\/","history_text":"

The record of this law\u2019s original creation isn\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 1952, chapter 317; in 1986, chapter 562.<\/p>","references":false,"refers_to":false,"permalink":{"id":212195,"object_type":"law","relational_id":57858,"identifier":"38.2-1519","token":"38.2\/15\/38.2-1519","url":"\/38.2-1519\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1519\/","token":"38.2\/15\/38.2-1519","dublin_core":{"Title":"Termination of rehabilitation; when liquidation may be entered","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1519","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> If either the Commission<\/span> or the court<\/span> determines that the purposes of the rehabilitation proceeding have been accomplished and that the insurer<\/span> can safely and properly resume possession<\/span> of its property and the conduct of its business, an order<\/span> may be entered terminating the rehabilitation proceeding and permitting the insurer<\/span> to resume possession<\/span> of its property and the management and conduct of its affairs. The order<\/span> shall not be entered until a full hearing<\/span> is held, subject to proper notice given in the manner prescribed by the Commission<\/span> or the court<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> If at any time it appears to either the Commission<\/span> or the court<\/span> that further efforts to rehabilitate the insurer<\/span> would be useless, an order<\/span> of liquidation<\/span> may be entered. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTERMINATION OF REHABILITATION; WHEN LIQUIDATION MAY BE ENTERED (\u00a7 38.2-1519)\n\nA. If either the Commission or the court determines that the purposes of the\nrehabilitation proceeding have been accomplished and that the insurer can safely\nand properly resume possession of its property and the conduct of its business,\nan order may be entered terminating the rehabilitation proceeding and permitting\nthe insurer to resume possession of its property and the management and conduct\nof its affairs. The order shall not be entered until a full hearing is held,\nsubject to proper notice given in the manner prescribed by the Commission or the\ncourt.\n\nB. If at any time it appears to either the Commission or the court that further\nefforts to rehabilitate the insurer would be useless, an order of liquidation\nmay be entered.\n\nHISTORY: Code 1950, \u00a7 38-139; 1952, c. 317, \u00a7 38.1-143; 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}}