{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1865.5.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1865.5.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1865.5.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1865.5.html"}],"law_id":75561,"edition_id":1,"section_id":75561,"structure_id":16262,"section_number":"38.2-1865.5","catch_line":"Requirement to report to Commission","history":"2001, c. 706; 2016, c. 552; 2019, c. 675.","full_text":"A\n\nEach licensed viatical settlement broker shall report, in writing, any change in business or residence address, email address, or name within 30 calendar days to the Commission.B\n\nIn addition to the requirements of §§ 59.1-69 and 59.1-70, any individual or business entity licensed as a viatical settlement broker in the Commonwealth and operating under an assumed or fictitious name shall notify the Commission, at the earlier of the time the application for a viatical settlement broker license is filed or within 30 calendar days from the date the assumed or fictitious name is adopted, setting forth the name under which the viatical settlement broker intends to operate in Virginia. The Commission shall also be notified within 30 calendar days from the date of cessation of the use of such assumed or fictitious name.C\n\nEach licensed viatical settlement broker convicted of a felony shall report within 30 calendar days to the Commission the facts and circumstances regarding the criminal conviction.D\n\nEach licensed viatical settlement broker shall report to the Commission within 30 calendar days of the final disposition of the matter any administrative action taken against him in another jurisdiction or by another governmental agency in the Commonwealth. Such report shall include a copy of the order, consent to order, or other relevant legal documents.E\n\nThe license authority of any licensed resident viatical settlement broker shall terminate immediately when such viatical settlement broker has moved his residence from the Commonwealth, whether or not the Commission has been notified of such move.F\n\nThe license authority of any business entity licensed as a viatical settlement broker shall terminate immediately if the designated licensed viatical settlement broker responsible for the business entity’s compliance with the insurance laws, rules, and regulations of the Commonwealth pursuant to subdivision E 2 of § 38.2-1865.1 is removed for any reason and a new responsible viatical settlement broker has not been designated and the Commission notified within 30 calendar days of such removal and of the new designated responsible viatical settlement broker.","order_by":null,"text":{"0":{"id":271438,"text":"Each licensed viatical settlement broker shall report, in writing, any change in business or residence address, email address, or name within 30 calendar days to the Commission.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":271439,"text":"In addition to the requirements of §§ 59.1-69 and 59.1-70, any individual or business entity licensed as a viatical settlement broker in the Commonwealth and operating under an assumed or fictitious name shall notify the Commission, at the earlier of the time the application for a viatical settlement broker license is filed or within 30 calendar days from the date the assumed or fictitious name is adopted, setting forth the name under which the viatical settlement broker intends to operate in Virginia. The Commission shall also be notified within 30 calendar days from the date of cessation of the use of such assumed or fictitious name.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":271440,"text":"Each licensed viatical settlement broker convicted of a felony shall report within 30 calendar days to the Commission the facts and circumstances regarding the criminal conviction.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":271441,"text":"Each licensed viatical settlement broker shall report to the Commission within 30 calendar days of the final disposition of the matter any administrative action taken against him in another jurisdiction or by another governmental agency in the Commonwealth. Such report shall include a copy of the order, consent to order, or other relevant legal documents.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":271442,"text":"The license authority of any licensed resident viatical settlement broker shall terminate immediately when such viatical settlement broker has moved his residence from the Commonwealth, whether or not the Commission has been notified of such move.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":271443,"text":"The license authority of any business entity licensed as a viatical settlement broker shall terminate immediately if the designated licensed viatical settlement broker responsible for the business entity’s compliance with the insurance laws, rules, and regulations of the Commonwealth pursuant to subdivision E 2 of § 38.2-1865.1 is removed for any reason and a new responsible viatical settlement broker has not been designated and the Commission notified within 30 calendar days of such removal and of the new designated responsible viatical settlement broker.","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":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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1865.5\/","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 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 2016, chapter 552<\/a>; in 2019, chapter 675<\/a>.<\/p>","references":[{"id":65833,"section_number":"38.2-1865.3","catch_line":"Refusal to issue and revocation of license; hearing; new application","order_by":null,"url":"\/38.2-1865.3\/"}],"refers_to":[{"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\/"},{"id":63628,"section_number":"59.1-69","catch_line":"Certificate required of person transacting business under assumed name","order_by":null,"url":"\/59.1-69\/"},{"id":54459,"section_number":"59.1-70","catch_line":"Filing a certificate with State Corporation Commission; fee","order_by":null,"url":"\/59.1-70\/"}],"permalink":{"id":212803,"object_type":"law","relational_id":75561,"identifier":"38.2-1865.5","token":"38.2\/18\/6.1\/38.2-1865.5","url":"\/38.2-1865.5\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1865.5\/","token":"38.2\/18\/6.1\/38.2-1865.5","dublin_core":{"Title":"Requirement to report to Commission","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1865.5","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Each licensed viatical settlement broker<\/span> shall report, in writing, any change in business or residence address, email address, or name within 30 calendar days to the Commission<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> In addition to the requirements of §§ 59.1-69<\/a> and 59.1-70<\/a>, any individual or business entity<\/span> licensed as a viatical settlement broker<\/span> in the Commonwealth and operating under an assumed or fictitious name shall notify the Commission<\/span>, at the earlier of the time the application for a viatical settlement broker<\/span> license<\/span> is filed<\/span> or within 30 calendar days from the date the assumed or fictitious name is adopted, setting forth the name under which the viatical settlement broker<\/span> intends to operate in Virginia. The Commission<\/span> shall also be notified within 30 calendar days from the date of cessation of the use of such assumed or fictitious name. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Each licensed viatical settlement broker<\/span> convicted of a felony<\/span> shall report within 30 calendar days to the Commission<\/span> the facts<\/span> and circumstances regarding the criminal conviction<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Each licensed viatical settlement broker<\/span> shall report to the Commission<\/span> within 30 calendar days of the final disposition<\/span> of the matter any administrative action taken against him in another jurisdiction<\/span> or by another governmental agency in the Commonwealth. Such report shall include a copy of the order<\/span>, consent to order<\/span>, or other relevant legal documents. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> The license<\/span> authority of any licensed resident<\/span> viatical settlement broker<\/span> shall terminate<\/span> immediately when such viatical settlement broker<\/span> has moved his residence from the Commonwealth, whether or not the Commission<\/span> has been notified of such move. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> The license<\/span> authority of any business entity<\/span> licensed as a viatical settlement broker<\/span> shall terminate<\/span> immediately if the designated licensed viatical settlement broker<\/span> responsible for the business entity<\/span>’s compliance with the insurance<\/span> laws<\/span>, rules, and regulations of the Commonwealth pursuant to subdivision E 2 of § 38.2-1865.1<\/a> is removed for any reason and a new responsible viatical settlement broker<\/span> has not been designated and the Commission<\/span> notified within 30 calendar days of such removal and of the new designated responsible viatical settlement broker<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREQUIREMENT TO REPORT TO COMMISSION (\u00a7 38.2-1865.5)\n\nA. Each licensed viatical settlement broker shall report, in writing, any change\nin business or residence address, email address, or name within 30 calendar days\nto the Commission.\n\nB. In addition to the requirements of §§ 59.1-69 and 59.1-70, any\nindividual or business entity licensed as a viatical settlement broker in the\nCommonwealth and operating under an assumed or fictitious name shall notify the\nCommission, at the earlier of the time the application for a viatical settlement\nbroker license is filed or within 30 calendar days from the date the assumed or\nfictitious name is adopted, setting forth the name under which the viatical\nsettlement broker intends to operate in Virginia. The Commission shall also be\nnotified within 30 calendar days from the date of cessation of the use of such\nassumed or fictitious name.\n\nC. Each licensed viatical settlement broker convicted of a felony shall report\nwithin 30 calendar days to the Commission the facts and circumstances regarding\nthe criminal conviction.\n\nD. Each licensed viatical settlement broker shall report to the Commission\nwithin 30 calendar days of the final disposition of the matter any\nadministrative action taken against him in another jurisdiction or by another\ngovernmental agency in the Commonwealth. Such report shall include a copy of the\norder, consent to order, or other relevant legal documents.\n\nE. The license authority of any licensed resident viatical settlement broker\nshall terminate immediately when such viatical settlement broker has moved his\nresidence from the Commonwealth, whether or not the Commission has been notified\nof such move.\n\nF. The license authority of any business entity licensed as a viatical\nsettlement broker shall terminate immediately if the designated licensed\nviatical settlement broker responsible for the business entity’s\ncompliance with the insurance laws, rules, and regulations of the Commonwealth\npursuant to subdivision E 2 of § 38.2-1865.1 is removed for any reason and\na new responsible viatical settlement broker has not been designated and the\nCommission notified within 30 calendar days of such removal and of the new\ndesignated responsible viatical settlement broker.\n\nHISTORY: 2001, c. 706; 2016, c. 552; 2019, c. 675.","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}}