{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1865.4.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1865.4.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1865.4.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1865.4.html"}],"law_id":80106,"edition_id":1,"section_id":80106,"structure_id":16262,"section_number":"38.2-1865.4","catch_line":"Licensing nonresidents; reciprocal agreements with other states and Canadian provinces","history":"2001, c. 706; 2008, c. 213.","full_text":"A\n\nAn individual or business entity who is not a resident as defined in \u00a7 38.2-1800, but who is a resident of another state or a province of Canada, shall receive a viatical settlement broker license if:1\n\nThe applicant presents proof in a form acceptable to the Commission that the applicant is currently licensed or otherwise authorized as a resident viatical settlement broker and is in good standing in his home state or province;2\n\nThe applicant has submitted the proper application for licensure and has paid the fees required by § 38.2-1865.1; and3\n\nThe applicant’s home state or province issues nonresident viatical settlement broker licenses to residents of this Commonwealth on the same basis, or will permit a resident of this Commonwealth to act as a viatical settlement broker in such state or province without requiring a license.B\n\nFor the purposes of this chapter, any individual whose place of residence and place of business are in a city or town located partly within the Commonwealth and partly within another state may be considered as meeting the requirements as a resident of this Commonwealth, provided the other state has established by law or regulation similar requirements as to residence of such individuals.C\n\nThe Commission may enter into a reciprocal agreement with an appropriate official of any other state or province of Canada if such an agreement is required in order for a Virginia resident to be similarly licensed as a nonresident in that state or province.D\n\nThe Commission may verify the viatical settlement broker’s licensing status through the Producer Database maintained by the NAIC, its affiliates or subsidiaries.E\n\nA nonresident viatical settlement broker who moves from one state or province to another state shall file a change of address and provide a certification from the new home state or province within thirty calendar days of the change of legal residence. No fee or license application is required.F\n\nAny licenses issued to nonresidents pursuant to this section shall be terminated at any time that the nonresident’s equivalent authority in his home state or province is terminated, suspended, or revoked.","order_by":null,"text":{"0":{"id":286846,"text":"An individual or business entity who is not a resident as defined in \u00a7 38.2-1800, but who is a resident of another state or a province of Canada, shall receive a viatical settlement broker license if:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":286847,"text":"The applicant presents proof in a form acceptable to the Commission that the applicant is currently licensed or otherwise authorized as a resident viatical settlement broker and is in good standing in his home state or province;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":286848,"text":"The applicant has submitted the proper application for licensure and has paid the fees required by § 38.2-1865.1; and","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":286849,"text":"The applicant’s home state or province issues nonresident viatical settlement broker licenses to residents of this Commonwealth on the same basis, or will permit a resident of this Commonwealth to act as a viatical settlement broker in such state or province without requiring a license.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"B"},"4":{"id":286850,"text":"For the purposes of this chapter, any individual whose place of residence and place of business are in a city or town located partly within the Commonwealth and partly within another state may be considered as meeting the requirements as a resident of this Commonwealth, provided the other state has established by law or regulation similar requirements as to residence of such individuals.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A3","next_prefix":"C"},"5":{"id":286851,"text":"The Commission may enter into a reciprocal agreement with an appropriate official of any other state or province of Canada if such an agreement is required in order for a Virginia resident to be similarly licensed as a nonresident in that state or province.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"6":{"id":286852,"text":"The Commission may verify the viatical settlement broker’s licensing status through the Producer Database maintained by the NAIC, its affiliates or subsidiaries.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"7":{"id":286853,"text":"A nonresident viatical settlement broker who moves from one state or province to another state shall file a change of address and provide a certification from the new home state or province within thirty calendar days of the change of legal residence. No fee or license application is required.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"8":{"id":286854,"text":"Any licenses issued to nonresidents pursuant to this section shall be terminated at any time that the nonresident’s equivalent authority in his home state or province is terminated, suspended, or revoked.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":16262,"edition_id":1,"name":"Licensing of Viatical Settlement Brokers","identifier":"6.1","label":"article","depth":3,"order_by":1,"parent_id":13203,"metadata":{},"date_created":"2026-06-26 04:11:39","date_modified":"2026-06-26 04:11:39","permalink":{"id":212785,"object_type":"structure","relational_id":16262,"identifier":"6.1","token":"38.2\/18\/6.1","url":"\/38.2\/18\/6.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13203,"edition_id":1,"name":"Insurance Agents","identifier":"18","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:44:26","date_modified":"2026-06-26 03:44:26","permalink":{"id":212411,"object_type":"structure","relational_id":13203,"identifier":"18","token":"38.2\/18","url":"\/38.2\/18\/","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":71463,"structure_id":16262,"section_number":"38.2-1865.1","catch_line":"License required for viatical settlement brokers; Commission's authority; conditions; renewal application and fee; reinstatement; waiver; fingerprinting","url":"\/38.2-1865.1\/","token":"38.2\/18\/6.1\/38.2-1865.1","metadata":false},{"id":70329,"structure_id":16262,"section_number":"38.2-1865.2","catch_line":"Grounds for placing on probation, refusal to issue or renew, revocation, or suspension of license","url":"\/38.2-1865.2\/","token":"38.2\/18\/6.1\/38.2-1865.2","metadata":false},{"id":65833,"structure_id":16262,"section_number":"38.2-1865.3","catch_line":"Refusal to issue and revocation of license; hearing; new application","url":"\/38.2-1865.3\/","token":"38.2\/18\/6.1\/38.2-1865.3","metadata":false},{"id":80106,"structure_id":16262,"section_number":"38.2-1865.4","catch_line":"Licensing nonresidents; reciprocal agreements with other states and Canadian provinces","url":"\/38.2-1865.4\/","token":"38.2\/18\/6.1\/38.2-1865.4","metadata":false},{"id":75561,"structure_id":16262,"section_number":"38.2-1865.5","catch_line":"Requirement to report to Commission","url":"\/38.2-1865.5\/","token":"38.2\/18\/6.1\/38.2-1865.5","metadata":false}],"previous_section":{"id":65833,"structure_id":16262,"section_number":"38.2-1865.3","catch_line":"Refusal to issue and revocation of license; hearing; new application","url":"\/38.2-1865.3\/","token":"38.2\/18\/6.1\/38.2-1865.3","metadata":false},"next_section":{"id":75561,"structure_id":16262,"section_number":"38.2-1865.5","catch_line":"Requirement to report to Commission","url":"\/38.2-1865.5\/","token":"38.2\/18\/6.1\/38.2-1865.5","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1865.4\/","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. It has been modified 1 time. 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. That modification is as follows: in 2008, chapter 213<\/a>.<\/p>","references":false,"refers_to":[{"id":67482,"section_number":"38.2-1800","catch_line":"Definitions","order_by":null,"url":"\/38.2-1800\/"},{"id":71463,"section_number":"38.2-1865.1","catch_line":"License required for viatical settlement brokers; Commission's authority; conditions; renewal application and fee; reinstatement; waiver; fingerprinting","order_by":null,"url":"\/38.2-1865.1\/"}],"permalink":{"id":212799,"object_type":"law","relational_id":80106,"identifier":"38.2-1865.4","token":"38.2\/18\/6.1\/38.2-1865.4","url":"\/38.2-1865.4\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1865.4\/","token":"38.2\/18\/6.1\/38.2-1865.4","dublin_core":{"Title":"Licensing nonresidents; reciprocal agreements with other states and Canadian provinces","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1865.4","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> An individual or business entity<\/span> who is not a resident<\/span> as defined in \u00a7 38.2-1800<\/a>, but who is a resident<\/span> of another state<\/span> or a province of Canada, shall receive a viatical settlement broker<\/span> license<\/span> if: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The applicant presents proof in a form acceptable to the Commission<\/span> that the applicant is currently licensed or otherwise authorized as a resident<\/span> viatical settlement broker<\/span> and is in good standing in his home state<\/span> or province; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The applicant has submitted the proper application for licensure and has paid the fees required by § 38.2-1865.1<\/a>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The applicant’s home state<\/span> or province issues<\/span> nonresident viatical settlement broker<\/span> licenses<\/span> to residents<\/span> of this Commonwealth on the same basis, or will permit a resident<\/span> of this Commonwealth to act as a viatical settlement broker<\/span> in such state or province without requiring a license<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> For the purposes of this chapter, any individual whose place of residence and place of business are in a city or town located partly within the Commonwealth and partly within another state may be considered as meeting the requirements as a resident<\/span> of this Commonwealth, provided the other state has established by law<\/span> or regulation similar requirements as to residence of such individuals. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The Commission<\/span> may enter into a reciprocal agreement with an appropriate official of any other state or province of Canada if such an agreement is required in order<\/span> for a Virginia resident<\/span> to be similarly licensed as a nonresident in that state or province. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The Commission<\/span> may verify the viatical settlement broker<\/span>’s licensing status through the Producer Database maintained by the NAIC<\/span>, its affiliates or subsidiaries. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> A nonresident viatical settlement broker<\/span> who moves from one state or province to another state shall file a change of address and provide a certification from the new home state<\/span> or province within thirty calendar days of the change of legal residence. No fee or license<\/span> application is required. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> Any licenses<\/span> issued to nonresidents pursuant to this section shall be terminated at any time that the nonresident’s equivalent authority in his home state<\/span> or province is terminated, suspended, or revoked. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLICENSING NONRESIDENTS; RECIPROCAL AGREEMENTS WITH OTHER STATES AND CANADIAN\nPROVINCES (\u00a7 38.2-1865.4)\n\nA. An individual or business entity who is not a resident as defined in \u00a7\n38.2-1800, but who is a resident of another state or a province of Canada, shall\nreceive a viatical settlement broker license if:\n\n 1. The applicant presents proof in a form acceptable to the Commission that\n the applicant is currently licensed or otherwise authorized as a resident\n viatical settlement broker and is in good standing in his home state or\n province;\n\n 2. The applicant has submitted the proper application for licensure and has\n paid the fees required by § 38.2-1865.1; and\n\n 3. The applicant’s home state or province issues nonresident viatical\n settlement broker licenses to residents of this Commonwealth on the same\n basis, or will permit a resident of this Commonwealth to act as a viatical\n settlement broker in such state or province without requiring a license.\n\nB. For the purposes of this chapter, any individual whose place of residence and\nplace of business are in a city or town located partly within the Commonwealth\nand partly within another state may be considered as meeting the requirements as\na resident of this Commonwealth, provided the other state has established by law\nor regulation similar requirements as to residence of such individuals.\n\nC. The Commission may enter into a reciprocal agreement with an appropriate\nofficial of any other state or province of Canada if such an agreement is\nrequired in order for a Virginia resident to be similarly licensed as a\nnonresident in that state or province.\n\nD. The Commission may verify the viatical settlement broker’s licensing\nstatus through the Producer Database maintained by the NAIC, its affiliates or\nsubsidiaries.\n\nE. A nonresident viatical settlement broker who moves from one state or province\nto another state shall file a change of address and provide a certification from\nthe new home state or province within thirty calendar days of the change of\nlegal residence. No fee or license application is required.\n\nF. Any licenses issued to nonresidents pursuant to this section shall be\nterminated at any time that the nonresident’s equivalent authority in his\nhome state or province is terminated, suspended, or revoked.\n\nHISTORY: 2001, c. 706; 2008, c. 213.","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}}