{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-210.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-210.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-210.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-210.html"}],"law_id":57078,"edition_id":1,"section_id":57078,"structure_id":14221,"section_number":"38.2-210","catch_line":"Loans to officers, directors, etc., prohibited","history":"Code 1950, \u00a7 38-4.1; 1952, c. 317, \u00a7 38.1-33; 1978, c. 701; 1986, c. 562.","full_text":"A\n\nExcept as provided in § 38.2-212, no insurer, legal services plan, health services plan, dental or optometric services plan, health maintenance organization, or home protection company, transacting business in this Commonwealth shall make a loan, either directly or indirectly, to any of its officers or directors. No such company shall make a loan to any other corporation or business unit in which any of its officers or directors has a substantial interest. No such officer or director shall accept or receive any such loan directly or indirectly.B\n\nFor the purposes of this section and of § 38.2-211, “a substantial interest” in any corporation or business unit means an interest equivalent to ownership or control of at least ten percent of its stock or its equivalent by an officer or director, or the aggregate ownership or control by all officers and directors of the same company.","order_by":null,"text":{"0":{"id":209048,"text":"Except as provided in § 38.2-212, no insurer, legal services plan, health services plan, dental or optometric services plan, health maintenance organization, or home protection company, transacting business in this Commonwealth shall make a loan, either directly or indirectly, to any of its officers or directors. No such company shall make a loan to any other corporation or business unit in which any of its officers or directors has a substantial interest. No such officer or director shall accept or receive any such loan directly or indirectly.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":209049,"text":"For the purposes of this section and of § 38.2-211, “a substantial interest” in any corporation or business unit means an interest equivalent to ownership or control of at least ten percent of its stock or its equivalent by an officer or director, or the aggregate ownership or control by all officers and directors of the same company.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":14221,"edition_id":1,"name":"Provisions of a General Nature","identifier":"2","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:47:20","date_modified":"2026-06-26 03:47:20","permalink":{"id":213095,"object_type":"structure","relational_id":14221,"identifier":"2","token":"38.2\/2","url":"\/38.2\/2\/","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":84875,"structure_id":14221,"section_number":"38.2-200","catch_line":"General powers of the Commission relative to insurance","url":"\/38.2-200\/","token":"38.2\/2\/38.2-200","metadata":false},{"id":70951,"structure_id":14221,"section_number":"38.2-201","catch_line":"Recommendations by Commission to General Assembly","url":"\/38.2-201\/","token":"38.2\/2\/38.2-201","metadata":false},{"id":71634,"structure_id":14221,"section_number":"38.2-202","catch_line":"Regulation of solicitation of proxies, consents and authorizations","url":"\/38.2-202\/","token":"38.2\/2\/38.2-202","metadata":false},{"id":66056,"structure_id":14221,"section_number":"38.2-203","catch_line":"Management and exclusive agency contracts subject to approval by Commission","url":"\/38.2-203\/","token":"38.2\/2\/38.2-203","metadata":false},{"id":86443,"structure_id":14221,"section_number":"38.2-204","catch_line":"Repealed","url":"\/38.2-204\/","token":"38.2\/2\/38.2-204","metadata":false},{"id":55426,"structure_id":14221,"section_number":"38.2-205.1","catch_line":"Temporary contracts of insurance permitted","url":"\/38.2-205.1\/","token":"38.2\/2\/38.2-205.1","metadata":false},{"id":77907,"structure_id":14221,"section_number":"38.2-206","catch_line":"Corporations as members of mutual insurers","url":"\/38.2-206\/","token":"38.2\/2\/38.2-206","metadata":false},{"id":78608,"structure_id":14221,"section_number":"38.2-207","catch_line":"Enforcement of right of subrogation in name of insured","url":"\/38.2-207\/","token":"38.2\/2\/38.2-207","metadata":false},{"id":66293,"structure_id":14221,"section_number":"38.2-208","catch_line":"Limitation of risks generally","url":"\/38.2-208\/","token":"38.2\/2\/38.2-208","metadata":false},{"id":71333,"structure_id":14221,"section_number":"38.2-209","catch_line":"Award of insured's attorney fees in certain cases","url":"\/38.2-209\/","token":"38.2\/2\/38.2-209","metadata":false},{"id":57078,"structure_id":14221,"section_number":"38.2-210","catch_line":"Loans to officers, directors, etc., prohibited","url":"\/38.2-210\/","token":"38.2\/2\/38.2-210","metadata":false},{"id":75678,"structure_id":14221,"section_number":"38.2-211","catch_line":"Other interests and payments to officers, directors, etc., prohibited","url":"\/38.2-211\/","token":"38.2\/2\/38.2-211","metadata":false},{"id":78879,"structure_id":14221,"section_number":"38.2-212","catch_line":"Certain compensation not prohibited","url":"\/38.2-212\/","token":"38.2\/2\/38.2-212","metadata":false},{"id":85199,"structure_id":14221,"section_number":"38.2-213","catch_line":"Violation of \u00a7 38.2-210 or \u00a7 38.2-211","url":"\/38.2-213\/","token":"38.2\/2\/38.2-213","metadata":false},{"id":74840,"structure_id":14221,"section_number":"38.2-214","catch_line":"Restrictions upon purchase and sale of equity securities of domestic stock insurers","url":"\/38.2-214\/","token":"38.2\/2\/38.2-214","metadata":false},{"id":64172,"structure_id":14221,"section_number":"38.2-215","catch_line":"Liability of president, chief executive officer or directors if insurance issued when insurer insolvent","url":"\/38.2-215\/","token":"38.2\/2\/38.2-215","metadata":false},{"id":66704,"structure_id":14221,"section_number":"38.2-216","catch_line":"Restrictions on removal or transfer of property and on reinsurance; penalty","url":"\/38.2-216\/","token":"38.2\/2\/38.2-216","metadata":false},{"id":81338,"structure_id":14221,"section_number":"38.2-217","catch_line":"When assets may not be distributed among stockholders","url":"\/38.2-217\/","token":"38.2\/2\/38.2-217","metadata":false},{"id":64490,"structure_id":14221,"section_number":"38.2-218","catch_line":"Penalties and restitution payments","url":"\/38.2-218\/","token":"38.2\/2\/38.2-218","metadata":false},{"id":73928,"structure_id":14221,"section_number":"38.2-219","catch_line":"Violations; procedure; cease and desist orders","url":"\/38.2-219\/","token":"38.2\/2\/38.2-219","metadata":false},{"id":63210,"structure_id":14221,"section_number":"38.2-220","catch_line":"Injunctions","url":"\/38.2-220\/","token":"38.2\/2\/38.2-220","metadata":false},{"id":78078,"structure_id":14221,"section_number":"38.2-221","catch_line":"Enforcement of penalties","url":"\/38.2-221\/","token":"38.2\/2\/38.2-221","metadata":false},{"id":86567,"structure_id":14221,"section_number":"38.2-221.1","catch_line":"Confidentiality of information","url":"\/38.2-221.1\/","token":"38.2\/2\/38.2-221.1","metadata":false},{"id":55819,"structure_id":14221,"section_number":"38.2-221.2","catch_line":"Treatment of confidential information pursuant to federal law","url":"\/38.2-221.2\/","token":"38.2\/2\/38.2-221.2","metadata":false},{"id":69354,"structure_id":14221,"section_number":"38.2-221.3","catch_line":"Confidentiality of applications and investigations","url":"\/38.2-221.3\/","token":"38.2\/2\/38.2-221.3","metadata":false},{"id":84985,"structure_id":14221,"section_number":"38.2-222","catch_line":"Appeals generally","url":"\/38.2-222\/","token":"38.2\/2\/38.2-222","metadata":false},{"id":87496,"structure_id":14221,"section_number":"38.2-223","catch_line":"Rules and regulations; 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The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 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 1978, chapter 701; in 1986, chapter 562.<\/p>","references":[{"id":75678,"section_number":"38.2-211","catch_line":"Other interests and payments to officers, directors, etc., prohibited","order_by":null,"url":"\/38.2-211\/"},{"id":78879,"section_number":"38.2-212","catch_line":"Certain compensation not prohibited","order_by":null,"url":"\/38.2-212\/"},{"id":85199,"section_number":"38.2-213","catch_line":"Violation of \u00a7 38.2-210 or \u00a7 38.2-211","order_by":null,"url":"\/38.2-213\/"}],"refers_to":[{"id":75678,"section_number":"38.2-211","catch_line":"Other interests and payments to officers, directors, etc., prohibited","order_by":null,"url":"\/38.2-211\/"},{"id":78879,"section_number":"38.2-212","catch_line":"Certain compensation not prohibited","order_by":null,"url":"\/38.2-212\/"}],"permalink":{"id":213137,"object_type":"law","relational_id":57078,"identifier":"38.2-210","token":"38.2\/2\/38.2-210","url":"\/38.2-210\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-210\/","token":"38.2\/2\/38.2-210","dublin_core":{"Title":"Loans to officers, directors, etc., prohibited","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-210","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Except as provided in § 38.2-212<\/a>, no insurer<\/span>, legal services plan, health services plan<\/span>, dental or optometric services plan, health maintenance organization, or home protection company<\/span>, transacting business in this Commonwealth shall make a loan, either directly or indirectly, to any of its officers or directors. No such company<\/span> shall make a loan to any other corporation or business unit in which any of its officers or directors has a substantial interest<\/span>. No such officer or director shall accept or receive any such loan directly or indirectly. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> For the purposes of this section and of § 38.2-211<\/a>, “a substantial interest<\/span>” in any corporation or business unit means an interest equivalent to ownership or control of at least ten percent of its stock or its equivalent by an officer or director, or the aggregate ownership or control by all officers and directors of the same company<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLOANS TO OFFICERS, DIRECTORS, ETC., PROHIBITED (\u00a7 38.2-210)\n\nA. Except as provided in § 38.2-212, no insurer, legal services plan,\nhealth services plan, dental or optometric services plan, health maintenance\norganization, or home protection company, transacting business in this\nCommonwealth shall make a loan, either directly or indirectly, to any of its\nofficers or directors. No such company shall make a loan to any other\ncorporation or business unit in which any of its officers or directors has a\nsubstantial interest. No such officer or director shall accept or receive any\nsuch loan directly or indirectly.\n\nB. For the purposes of this section and of § 38.2-211, “a substantial\ninterest” in any corporation or business unit means an interest equivalent\nto ownership or control of at least ten percent of its stock or its equivalent\nby an officer or director, or the aggregate ownership or control by all officers\nand directors of the same company.\n\nHISTORY: Code 1950, \u00a7 38-4.1; 1952, c. 317, \u00a7 38.1-33; 1978, c. 701; 1986, c.\n562.","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}}